RE: Acquisition

Land Securities Group Plc
05 July 2006

5 July 2006


Land Securities Group PLC ('Land Securities')

LAND SECURITIES BUYS IN EC3 FOR LANDFLEX


Land Securities announces today that it is adding to its Landflex portfolio with
the purchase of 47 Mark Lane, EC3 for £55 million from The Hemingway Investment
Partnership and Hemingway Capital Limited.

The property is a new refurbishment which is due for completion in September
this year. It offers 84,000 sq ft of office accommodation, of which 61,000 sq ft
is currently available and will be offered with Landflex leases and 19,000 sq ft
of ground floor retail which is fully let to multiple independent retailers.

Welcoming the acquisition, Mike Hussey, Managing Director of Land Securities'
London Portfolio, commented;

'140 Aldersgate Street has demonstrated the strength of demand for the Landflex
product in the City, and 47 Mark Lane therefore presents us with a further
opportunity to offer flexible leases on high quality space in this market.'

Landflex is an integrated accommodation package introduced by Land Securities in
2003, which enables occupiers to tailor their business accommodation
requirements to their changing business needs. The Landflex portfolio now
comprises circa 740,000 sq ft including 140 Aldersgate Street EC1, Empress State
SW6, 7 Soho Square W1 and 40 Eastbourne Terrace W2, which was recently fully let
to CB&I John Brown following its recent refurbishment.

King Sturge represented Land Securities and Strutt & Parker acted for The
Hemingway Investment Partnership and Hemingway Capital Limited.

Land Securites has appointed Knight Frank as the office leasing agents.


                                 -Ends-


For further information please contact:

Mike Hussey / Melissa Winsor
Land Securities Group PLC
Tel: [phone]
www.landflex.co.uk


Stephanie Highett / Dido Laurimore
Financial Dynamics
Tel: [phone]

Notes to Editors

Landflex

Landflex was created by Land Securities following extensive research into the
needs of modern businesses and against the backdrop of the Code of Practice for
commercial leases which requests that landlords offer priced alternatives to
their tenants on a number of aspects of their lease including length, rent
review process and break clauses.

Land Securities has ambitions to expand Landflex to some 1.5 million sq ft
across Central London in the medium term.

Land Securities Group PLC

Land Securities is a FTSE 100 company, quoted on the London Stock Exchange. It
has been at the forefront of the UK's commercial property industry for over 60
years.  Today, the Group maintains its market leading position as the UK's
largest quoted property company by providing commercial accommodation and
property services to a wide range of occupiers. The Group's objective is to
create attractive and sustainable returns for its shareholders through its
activities, which include property investment, development and property
outsourcing.

Land Securities holds a market leading position in three areas of the UK
commercial property market:

  • Retail,
  • London offices and
  • Property outsourcing.

Its £12.9 billion combined investment portfolio includes over 10 million sq feet
of office and retail space in Central London and 30 shopping centres and 30
retail parks located across the UK.

It has a substantial development programme with a number of development projects
including major retail-led urban regeneration schemes and Central London
mixed-use developments.  The Group is also master planning one of Europe's
largest regeneration schemes in Kent Thameside.

The Group leads the market in property outsourcing where, through Land
Securities Trillium, it provides accommodation and property-related services to
the Department for Work and Pensions, the BBC, Norwich Union, Barclays Bank,
DVLA and through a joint venture, Telereal, to BT.

For more information on Land Securities visit www.landsecurities.com




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