Bond Closure

Land Securities Group Plc 27 February 2003 27 February 2003 LAND SECURITIES PLC ('Land Securities') £400m 5.875% bonds due 2013 and £200m 6.375% bonds due 2024 Land Securities PLC, a subsidiary of Land Securities Group PLC, announces the successful closure of the £400m 5.875% bonds due 2013 and £200m 6.375% bonds due 2024 issued on Friday 14 February. The net proceeds of £592.6m will be used to repay existing bank debt. The company has also taken the opportunity to close out certain related interest rate swaps, originally created to cap the cost of future debt. These will result in a £23.5m exceptional interest write-off this year but lower interest charges in future. -Ends- For further information, please contact: Land Securities Martin Wood / Jennifer van der Eem Tel: +44(0) 20 7413 9000 www.landsecurities.com Financial Dynamics Stephanie Highett / Steve Jacobs Tel: +44 (0) 20 7831 3113 This information is provided by RNS The company news service from the London Stock Exchange
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