British Land Co PLC

2 July 2008

The British Land Company PLC (the "Company") announces the following grants, under its Save as you Earn ("SAYE") Share Option Scheme, to Directors and Persons Discharging Managerial Responsibility ("PDMR") of the Company, of options over Ordinary Shares of 25p each of the Company. A Braine (PDMR) and T Roberts (Director) have applied in the 3 year SAYE scheme receiving 1,506 options and 1,205 options respectively.  S Hester (Director) and N Webb (PDMR) have applied in the 5 year SAYE scheme receiving 2,608 shares (with 1,598 scheme options granted on 3 July 2006 lapsing) and 2,608 shares respectively. The SAYE scheme contracts start on 1 September 2008 with all options being granted on 30 June 2008 at an exercise price of 624p per share and permitted exercise periods are for a period of six months from 01.09.2011 to 29.02.12 for the 3 year SAYE scheme and from 01.09.2013 to 28.02.14 for the 5 year SAYE scheme.

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