Debenture Stock Acceptances

Land Securities Group Plc
20 October 2004

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE
UNITED STATES



20 October 2004



LAND SECURITIES GROUP PLC



LAND SECURITIES PLC - DEBENTURE STOCK ACCEPTANCES



Following its offers to noteholders announced on 27 September (1), Land
Securities PLC announces that, as at 19 October 2004, the Early Submission Date
for holders of each series of Debenture Stock due in 2025, 2027 and 2030, it has
received acceptances that exceed the requisite majority necessary to pass the
relevant extraordinary resolutions to be proposed at the noteholder meetings
scheduled to take place on 22 October 2004 (2).



Together with the acceptances it has received from holders of Bearer Bonds, Land
Securities PLC has now received acceptances in excess of the majority necessary
to pass the Extraordinary Resolutions applicable to each Series of Existing
Notes.



In accordance with Part VII of Chapter 2 of the Offer Document, Land Securities
further announces that amended versions of each of the documents referred to in
paragraph (iii) of that Part VII are available for inspection at the office of
the Dealer Manager at Canada Square, Canary Wharf, London E14 5LB.



                                    - End -





For further information, please contact:



Land Securities Group PLC

Andrew Macfarlane/Emma Denne

Tel: [phone]



Financial Dynamics

Stephanie Highett/Dido Laurimore

Tel: [phone]







(1) The offers to noteholders announced on 27 September 2004 are set out in the
Prospectus, Offer and Consent Solicitation Document published on that date ('the
Offer Document')



(2) Defined terms used in this announcement have the same meaning as given to
them in the Offer Document





Important Notice



No offer or invitation to acquire or exchange any securities or proposals to
Existing Noteholders is being made pursuant to this press release.  Any such
offer, invitation or proposals are only being made in the Offer Document and any
such acquisition or exchange or acceptance of such proposals should be made
solely on the basis of information contained in the Offer Document.  A copy of
the Offer Document is available at the offices of Citigroup Global Markets
Limited at Canada Square, Canary Wharf, London E14 5LB.



This press release is not an offer of securities for sale in the United States.
The new bonds to be issued under the new structure have not been and will not be
registered under the United States Securities Act of 1933, as amended (the '
Securities Act') and may not be offered or sold within the United States or to
or for the account or benefit of U.S. Persons (as defined in Regulation S under
the Securities Act ('Regulation S')), except pursuant to an exemption from, or
in a transaction not subject to, the registration requirements of the Securities
Act.  Accordingly, the new bonds will be offered and sold only (A) to Qualified
Institutional Buyers in reliance on the exemption from the registration
requirements of the Securities Act provided by Rule 144A under the Securities
Act and (B) outside the United States to non-U.S. Persons in compliance with
Regulation S.








                      This information is provided by RNS
            The company news service from the London Stock Exchange