Holding(s) in Company

British Land Co PLC
14 May 2002


The British Land Company PLC announces that it received notification on 13 May
2002, pursuant to sections 198-202 of the Companies Act 1985, that Merrill Lynch
& Co. Inc's aggregate interest in the Company is 56,905,819 ordinary 25p shares,
representing 10.98% 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 ( 'MLIM' ) have interests, through
MLIM, in the share capital of the Company as follows:


Registered Holder                                                             Number of shares


Nutraco Nominees Limited                                                      27,277,737
(Designated & Undesignated)

Treasury of the Government of Isle of Man                                     275,388
A/C 5

Treasury of the Government of Isle of Man                                     121,500
A/C 10

Stamford Nominees Limited                                                     11,000

Merrill Lynch Pension Nominees Limited                                        1,206,346
A/C Noncert

Stamford Nominees Limited                                                     36,000
A/C Charty

Chase Nominees Limited                                                        6,067,119

Nortrust Nominees Limited                                                     2,237,165

Bank of New York Nominees Limited                                             618,247

RBSTB Nominees Limited                                                        1,221,776

Junction Nominees Limited                                                     5,094,068

MSS Nominees Limited                                                          306,390

State Street Nominees Limited                                                 278,777

29 Gracechurch Street Nominees Limited                                        748,827


Other Names                                                                   11,217,135


Total                                                                         56,717,475

Merrill Lynch & Co., Inc and Merrill Lynch Group 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 & Co., Inc                                             56,905,819
Merrill Lynch Group, Inc                                            56,905,819



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