Acquisition

British Land Co PLC
14 February 2003

                BRITISH LAND MAKES FURTHER ADDITION TO BROADGATE


The British Land Company PLC ("British Land") today announces that it has
purchased the virtual freehold (999 years) of One Appold Street from Deutsche
Bank.  One Appold Street is a 180,000 sq.ft. office building situated on the
north side of British Land's Broadgate Estate in the City of London.

The sale by Deutsche Bank is subject to a leaseback to the bank for a period of
fifteen years, without break.

Robert Bowden, British Land's Investment Property Director, commented: "One
Appold Street is the final piece in the Broadgate Estate jigsaw which has been
assembled by British Land over a period of twenty years."

The assembly of the Broadgate Estate began with the purchase of 1,2 and 3
Finsbury Avenue followed by the purchase from Stanhope Developments of a 50%
share of the development in 1995 with the remaining 50% was acquired in January
1996.

In 1998, British Land purchased 175 Bishopsgate, Railtrack's ground rent
interest in the Estate, 100 Liverpool Street and 8/10 Broadgate and, in 1999,
Broadwalk House was acquired.  In 2000, the Great Eastern Hotel was purchased
and No. 10 Exchange Square (formerly known as Hamilton House) was also acquired
which, following the grant of planning consent, is currently being redeveloped
to form an eleven storey building of 150,000 sq.ft.

Railtrack's 50% interest in the proposed 750,000 sq.ft. development at 201
Bishopsgate was acquired in 2002.

Broadgate now provides office, retail and leisure accommodation totalling 32
acres and provides 4.1 million sq.ft of prime City space.  British Land has
recently embarked upon a major redevelopment of the public areas. Broadgate
adjoins the major transport interchange of Liverpool Street, with mainline and
underground stations, in the City of London. It is a distinctive environment for
some of the world's largest corporations and leading professional practices
including Deutsche Bank, UBS Warburg, Herbert Smith and The European Bank of
Reconstruction and Development.


For further information, please contact:


The British Land Company PLC:                             [phone]
Robert Bowden, Property Investment Director
John Weston-Smith, Chief Operating Officer

Finsbury                                                  [phone]
Edward Orlebar or Gordon Simpson


                      This information is provided by RNS
            The company news service from the London Stock Exchange               MIBBIJ