Redemption of B Shares

Land Securities Group Plc
13 September 2004



Land Securities Group PLC

For immediate release


13 September 2004



                       Redemption of Outstanding B Shares



Land Securities Group PLC ('Land Securities') announces that it has today
resolved to compulsorily redeem on 15 October 2004 all the remaining 6,532,895 B
shares ('B Shares') in issue at a value of 102 pence per B Share plus the
outstanding accrued dividend.  The B Shares were issued in September 2002 to
effect a return of capital.  Approximately 99% of the B Shares originally issued
have already been redeemed.



Crest accounts will be credited on 15 October 2004, and cheques in respect of
payment of the redemption proceeds will be despatched on or before 22 October
2004.


Enquiries:


Peter Dudgeon
Company Secretary
Land Securities Group PLC
020 7413 9000




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