Disposal

Land Securities Group Plc
18 July 2003



PRESS RELEASE


18 July 2003



LAND SECURITIES GROUP PLC ('Land Securities')
LAND SECURITIES ANNOUNCES SALE OF GRAND BUILDINGS

Land Securities SELLS GRAND BUILDINGS, LONDON WC2
Land Securities announced today that it has completed the sale of Grand
Buildings, London WC2 for an amount in the region of £140 million to Noriba
Bank, a member of the UBS Group.


The 18,400 sq m (198,000 sq ft) prime office building is located on the
south-east corner of Trafalgar Square and comprises offices with retail on the
ground floor.  The offices are occupied by Shell and Lattice and the total gross
rental income on the property is in excess of £9.7m per annum.


Commenting on the sale, Mark Collins, Chief Executive of Land Securities
Portfolio Management, said:


'During the period of our ownership of Grand Buildings, Land Securities has
created significant value for its shareholders through both the original
development and subsequent lettings.  A decision was taken to sell the building
following a review earlier this year and, by selling at this time, we have been
able to secure an attractive price.  The proceeds of the sale will be reinvested
back into group activities which we believe offer better earnings and growth
potential.'


Land Securities were advised by Jones Lang LaSalle.


                                     -Ends-



For further information please contact:


Land Securities                                Financial Dynamics
Emma Denne                                     Stephanie Highett/Dido Laurimore
Tel: [phone]                       Tel: [phone]





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