Disposal

Land Securities Group Plc
26 February 2007


26 February 2007

Land Securities Group PLC ('Land Securities')
LAND SECURTIES ANNOUNCES SALE OF DEVONSHIRE HOUSE, W1

Land Securities announced today that it has exchanged contracts for the sale of
Devonshire House, London W1 to a wholly owned subsidiary of DCD and The Witkoff
Group for over £280m.


The 15,619 sqm (186,472 sqft) landmark building on an island site on Piccadilly
between Stratton Street, Berkeley Street and Mayfair Place in London's West End
comprises offices with nine retail shops and showrooms on the ground floor.  The
offices are occupied by various major groups, including Boston Consulting, Egon
Zehnder International, Alliance Bernstein and Bain Capital and the retail
tenants include Marks & Spencer.  The property provides a total rental income in
excess of £11m per annum.


Mike Hussey, Managing Director for the London Portfolio at Land Securities,
commented on the sale:


'We have owned Devonshire House since 1955 and during this time Land Securities
has been able to create very considerable value for our shareholders through the
property's refurbishment and subsequent lettings.  The strength of the
investment market made it a very appropriate time to sell this prominent asset
and we have been able to secure a significant premium price.  The proceeds of
the sale will be reinvested in other investment and development projects in
London, creating new trophies for the Group.'


Scott Alper, Principal for the Witkoff Group said:


'We along with DCD Group are excited to be able to purchase Devonshire House,
one of the most prestigious landmark properties in London's Mayfair district.
In light of the emergence of London as the financial capital of the world,
Witkoff Group sees tremendous opportunity in the marketplace and is very excited
to add Devonshire House to its London real estate holdings.'


Land Securities was advised by Franc Warwick.  Witkoff and DCD Group were
advised by CBGA.

                                     -Ends-

For further info, please contact:

 Land Securities Group PLC                        Financial Dynamics
 Melissa Winsor/Mike Hussey                       Dido Laurimore

 T [phone]                            T [phone]



London Portfolio

Land Securities is the UK's leading real estate investment trust. Half our
multi-billion pound portfolio is in London, where we own many landmark buildings
such as the Piccadilly Lights and Westminster City Hall and are developing some
of the capital's most innovative mixed-use schemes, such as Cardinal Place,
Victoria and New Street Square in mid-town. Land Securities' investment
portfolio also includes around 60 retail parks and shopping centres such as the
Bullring in Birmingham. We are also one of the leading names in property
outsourcing, and through urban community development are involved in long-term,
large-scale regeneration projects in the south-east.






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