Re Coppergate Riverside, York

Land Securities Group Plc
10 September 2003


10 September 2003


Land Securities statement regarding Coppergate Riverside, York

Land Securities today received notification from the Office of the Deputy Prime
Minister that, following the lengthy public inquiry, planning permission for its
250,000 sq ft mixed-used development, Coppergate Riverside, in York has been
refused.

Commenting on the decision Francis Salway, Chief Executive of Development, said
'We are disappointed with the decision but believe that the case for further
retail space in York has been proven.   Over a long period we have experienced
many delays in the planning process while new planning guidance has been
introduced, new and influential planning bodies such as CABE have been created
and new approaches to city centre redevelopment have emerged.  In these
circumstances we believe that we now have an opportunity to reflect on the
Inspector's conclusions, and work closely with York City Council, English
Heritage, the local community and others to develop a process to allow us to
move forward from here, as we have done so successfully in Exeter recently.

'While this is a setback for us, our current holdings in the site provide a high
income yield and our overall investment to date in the scheme is small.'

Plans for a second phase at Coppergate, York have been in gestation for more
than a decade, during which time Land Securities has successfully completed
schemes in Leeds, Sunderland and Birmingham, while also securing planning
consents in Canterbury, Exeter, Bristol and Cardiff.  It believes that it can
bring to bear some of the substantial experience gained during this time.


                                    - Ends -



For further information please contact:

Land Securities
Francis Salway / Emma Denne
Tel: [phone]

Polo PR Partnership
Tim Flanagan
Tel: [phone]

Financial Dynamics
Steve Jacobs / Dido Laurimore
Tel: [phone]


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