Holding in Company

British Land Co PLC
7 September 2001

The British Land Company PLC announces that it received notification on 6
September 2001, pursuant to sections 198-202 of the Companies Act 1985, that
Merrill Lynch & Co. Inc's aggregate interest in the Company is 52,220,201
ordinary 25p shares, representing 10.07% of the issued share capital of the
Company. Details of this disclosure of interest by Merrill Lynch are as
follows:



ML Invest Holdings Limited, ML Invest, Inc being certain holding companies of
Merrill Lynch Investment Managers Limited's ( 'MLIM' ) have interests, through
MLIM, in the share capital of the Company as follows:



Registered Holder                                   Number of Shares

Nutraco Nominees Limited                            33, 696, 376
(Designated & Undesignated)


Merrill Lynch Pensions Nominees Limited             896, 512
A/C Noncert


Merrill Lynch Pensions Nominees Limited             107, 395
A/C Logica


Stamford Nominees Limited                           47, 000
(Designated & Undesignated)


Treasury of the Government of the Isle              154,255
Of Man A/C 5


Treasury of the Government of the Isle              69,000
Of Man A/C 10


Other Names                                         16,081, 848


Total:                                              51,052,386



Merrill Lynch Group Inc and Merrill Lynch & Co., Inc., which are holding
companies of MLIM and of certain other companies, have interests in aggregate
in the relevant share capital of the Company as follows:



Merrill Lynch Group, Inc                             51,174,006
Merrill Lynch & Co., Inc                             52,220,201