Director Shareholding

British Land Co PLC
21 April 2004


Notification of monthly investment in the British Land Share Incentive Plan ('
SIP')


Hill Samuel ESOP Trustees Limited (the 'Trustees'), Trustees of the British Land
SIP, have notified the Company that they purchased on 14th April 2004 a total of
44,766 ordinary 25p shares at a price of 639 p per share under the 'Partnership'
and 'Matching' element of the Company's SIP.   Under the terms of the SIP each
eligible participating employee can contribute from monthly salary to purchase '
Partnership Shares', and the Company matches this by awarding 2 'Matching
Shares' for every one 'Partnership Share' purchased by participating employees.
   The SIP has been approved by the Inland Revenue as a share incentive plan
under Schedule 8 of the Finance Act 2000.

As participants in the SIP the executive directors named below are deemed to
have an interest in the shares held by the Trustees.

The Company also received notification from the Trustees, that of the above
shares acquired by the Trustees, the shares purchased on behalf of the Company's
executive directors were as follows:

Name                  Number of Partnership shares    Number of Matching Shares 
                      acquired under the SIP          acquired under the SIP

J H Ritblat           117                             234
J H Weston Smith      117                             234
N S J Ritblat         117                             234
R E Bowden            117                             234
G C Roberts           117                             234


21st April 2004.



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