Result of EGM

Land Securities Group Plc
15 December 2006





15 December 2006



Land Securities Group PLC ('Land Securities')



LAND SECURITIES TO CONVERT TO REIT
AND RESULTS OF EXTRAORDINARY GENERAL MEETING



Land Securities confirms that, following the Extraordinary General Meeting held
today, 15 December 2006, at which shareholders approved changes to its Articles
of Association, it will be taking the necessary steps for Land Securities and
its subsidiaries (the 'Group') to convert to a Real Estate Investment Trust ('
REIT') on 1 January 2007.  This conversion will be effected by way of a
notification letter to HM Revenue & Customs and will result in the payment of a
conversion charge in July 2007.  The conversion charge, which is expected to be
in the order of £300m, will be 2% of the value of the Group's qualifying
property assets.



In order to quantify the precise amount of the conversion charge, the Group will
be carrying out a valuation of the relevant assets as at 31 December 2006.  This
will be a one-off exercise and will include an external valuation of both the
qualifying properties held in the investment property business together with the
qualifying properties held by Land Securities Trillium, representing the first
valuation of these assets since Trillium was acquired in 2000.  It is
anticipated that the results of the valuation will be announced to shareholders
in February 2007.



Commenting on the conversion, Francis Salway, Group Chief Executive of Land
Securities, said:  'We are confident that our conversion to REIT status will
bring benefits to shareholders in terms of the Group's tax efficiency and are
excited to be one of the first companies to take advantage of the new
legislation.  We look forward to the increased dynamism this change will bring
to the sector.'



Land Securities received valid proxies for the Extraordinary General Meeting in
respect of 270,109,027 shares.  Votes in respect of 267,749,235 shares,
representing over 99.1% of the shares subject to valid proxies, were cast in
favour of the Resolution or left to the Chairman's discretion; votes in respect
of 56,038 shares, representing 0.02% of the shares subject to valid proxies were
cast against the Resolution; and votes in respect of 2,303,754 shares,
representing 0.85% of the shares subject to valid proxies, were withheld.



Copies of the Resolution passed at the Extraordinary General Meeting will be
available shortly for inspection by the public during normal business hours on
any weekday (except public holidays) at the UK Listing Authority's Document
Viewing Facility, which is situated at the Financial Services Authority, 25 The
North Colonnade, Canary Wharf, London E14 5HS (tel. [phone]).



                                     -Ends-



For further information please contact:



Francis Salway / Emma Denne


Land Securities

Tel: + 44 (0)20 7024 5460



Stephanie Highett / Dido Laurimore

Financial Dynamics

Tel: [phone]



For more information on Land Securities visit www.landsecurities.com


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