Instructions to Valuers

ATIS REAL Weatheralls Limited
Norfolk House, 31 St. James's Square,
London SW1Y 4JR


Dear Sirs,
Valuations for the year ending 31 March 2003.
The British Land Company PLC
and various Joint Venture Companies

I confirm our instructions to prepare reports and valuations, for inclusion in year end Report and Accounts, in respect of the properties owned by the above in the United Kingdom. For this purpose, tenancy schedules have been provided to you and will be updated through to 31 March.

Your valuation certificates are to include a schedule with all relevant information for each property.

Your valuations are to be prepared on an open market basis in accordance with the current Appraisal and Valuation Manual (The Red Book) published by The Royal Institution of Chartered Surveyors, which, inter alia, states that the surveyors undertaking the work are to be appropriately qualified. In accordance with usual market practice, your valuations are to reported net after the deduction of the prospective purchaser's costs, including stamp duty.

You will conduct appropriate inspections of each of the properties and measure, in those cases where you have not been provided with floor areas, as agreed between the landlord and tenant at the time of rent review or the initial letting. In respect of planning, your surveyors will make their own enquiries of the various planning authorities. You will also refer to title reports and leases either in your possession or made available to you.

These instructions are given on the basis, as previously, that your professional indemnity policy is in place and sufficient on a per claim basis cover this instruction.

Yours faithfully
for and on behalf of The British Land Company PLC



M. I. Gunston, FRICS
Chief Surveyor

30 January 2003

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