Holding in Company

Land Securities PLC
29 March 2001

                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     LAND SECURITIES PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     ZURICH SCUDDER INVESTMENTS LIMITED

3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18

     SEE SCHEDULE BELOW

4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

     SEE SCHEDULE BELOW

5)   Number of shares/amount of stock acquired.



6)   ( N/A %) of issued Class

7)   Number of shares/amount of stock disposed



8)   ( N/A %) of issued Class

9)   Class of security

     £1 ORDINARY SHARES

10)  Date of transaction



11)  Date company informed

     29/3/2001

12)  Total holding following this notification

     15,874,072
              
13)  Total percentage holding of issued class following this notification

     3.03% 

14)  Any additional information



15)  Name of contact and telephone number for queries

     PETER DUDGEON - 020 7413 9000

16)  Name and signature of authorised company official responsible for 
     making this notification


     Date of Notification ....29th MARCH 2001

Registered Owner                                     Ordinary £1.00 Shares
----------------                                     ---------------------
Littledown Nominees Limited          A/c 09890              206,116
Littledown Nominees Limited          A/c 02891            8,745,149
Littledown Nominees Limited          A/c 07198              166,139
Littledown Nominees Limited          A/c 11121               29,000
Littledown Nominees Limited          A/c 07201              626,779
Littledown Nominees Limited          A/c 07205            2,000,000
Littledown Nominees Limited          A/c 03449              790,000
Littledown Nominees Limited          A/c 07199               70,745
Littledown Nominees Limited          A/c 21688              900,000
Littledown Nominees Limited          A/c 02642              499,415
Littledown Nominees Limited          A/c 07207            1,345,000
RBSTB Nominees Ltd                   A/c -                   25,013
RBSTB Nominees Ltd                   A/c -                   32,737
RBSTB Nominees Ltd                   A/c -                   13,645
RBSTB Nominees Ltd                   A/c -                   26,032
RBSTB Nominees Ltd                   A/c -                  398,100
Williams & Glynns Nominees Ltd       A/c A33                    200

TOTAL                                                    15,874,072

Notes 

Littledown Nominees Ltd is a nominee for the ZFS Group subsidiaries: Allied
Dunbar Assurance plc, Zurich Financial Services UK (AD) Pension Scheme; Eagle
Star Insurance Company Ltd; Eagle Star Life Assurance Company Ltd; Eagle Star
Pension Trustee Ltd; Eagle Star Executives Pension Trustee Ltd; Eagle Star
Securities Ltd; Sceptre Trust Ltd; Home & Overseas Insurance Company Ltd; Zurich
Scudder Pension Managers Ltd; and Chase Manhattan Trustees Ltd, the Trustee for
Eagle Star Unit Managers Ltd and the Depository to Threadneedle Investment Funds
ICVC.

RBSTB Nominees Ltd is a nominee for the ZFS Group subsidiaries: Zurich Insurance
Company (UK) Ltd., Zurich Life Assurance Company Ltd and Zurich International
(UK) Ltd.

Williams & Glyns (Isle of Man) Nominees Ltd is a nominee for ZFS Group
subsidiary, Allied Dunbar International Assurance Ltd and for the Royal Bank of
Scotland (Isle of Man) Limited, the Trustee for Allied Dunbar International 
Funds Ltd.

ZFS is Zurich Financial Services, a company incorporated in Switzerland.

This notification is made on behalf of :

Zurich Financial Services UK (AD) Pension Scheme; Allied Dunbar International
Assurance Ltd; Allied Dunbar International Fund Managers Ltd and Allied Dunbar
Assurance plc.

Eagle Star Group Holdings Ltd, Eagle Star Insurance Company Ltd, Eagle Star Life
Assurance Company Ltd, Eagle Star Pension Trustee Ltd, Eagle Star Executives
Pension Trustee Ltd and Eagle Star Holdings Ltd.

Zurich Scudder Investments Ltd, Zurich Scudder Pension Managers Ltd and Zurich
Scudder Investment Holdings Ltd.

Geneva Life Insurance Company, Zurich International (UK) Ltd, Zurich Life
Insurance Company, Assuticum AG, Zurich Specialities London Ltd, Zurich Holdings
(UK) Ltd, Zurich Life Assurance Company Ltd, Zurich Insurance Company (UK) Ltd
and Zurich Insurance Company.

Allied Zurich Holdings Ltd, Zurich Scudder Investments Inc. ZKI Holding
Corporation, Zurich Financial Services (UKISA) Ltd, Zurich Group Holding, Zurich
Holding Company of America Inc. Zurich Insurance Company and Allied Zurich plc,
the Intermediate holding companies for the aforementioned companies and Zurich
Financial Services, their ultimate holding company.

The shares could be available for lending and this could lead to a short term
re-registration.