Sale

British Land Co PLC 20 February 2006 20 February 2006 British Land Sells £300 million Residential Property Investment Portfolio to Insight Investment The British Land Company PLC ("British Land") has contracted to sell its interests in its residential property investment portfolio to clients of Insight Investment for a total consideration of approximately £300 million (being the most recently reported net asset value). At the same time a subsidiary of British Land has entered into a contract under which it will provide on-going asset management services for the portfolio. Stephen Hester, Chief Executive of British Land, commented: "The sale of these residential assets results from our continuing review of the portfolio to identify non-core assets for disposal. We are also pleased to be utilising our asset management expertise in the sector on an ongoing basis as advisers to Insight, thereby extending the fund management track record and earnings of British Land. We look forward to a fruitful partnership and helping them to build a leadership position in this sector." Contacts The British Land Company PLC: Stephen Hester 020 7467 3500 John Weston Smith 020 7467 2899 Finsbury: Ed Orlebar 020 7251 3801 Insight Investment: Press Office 020 7321 1358 This information is provided by RNS The company news service from the London Stock Exchange
UK 100

Latest directors dealings