• Consolidated Income Statement
• Consolidated Balance Sheet
• Consolidated Statement of Changes in Equity
• Consolidated Cash Flow Statement
• Notes to the accounts
• Detailed Consolidated Income Statement
• Company Balance Sheet
• Notes to the Company accounts
• Report of the Auditors
• Financial Calendar
• Shareholder Information
• Ten Year Record
• Sponsorship

Financial Statements

Shareholder Information

Analysis of shareholders - 31 March 2006

Number of shares		Number of shareholders	%	Number of shares	%
1- 1,000		6,696	63.78	2,810,857	0.54
1,001- 5,000		2,549	24.28	5,438,545	1.05
5,001 - 20,000		566	5.39	5,694,840	1.1
20,001- 50,000		201	1.91	6,513,727	1.25
Over 50,000		487	4.64	498,727,320	96.06
		10,499	100.00	519,185,289	100.00
Individuals		6,931	66.01	9,686,416	1.86
Banks or nominees		3,238	30.85	493,986,655	95.15
Insurance companies		1	0.01	100	0.00
Public Limited companies		14	0.13	487,148	0.09
Pension trusts		4	0.04	4,201	0.00
Other Limited companies		206	1.96	7,954,887	1.53
Other Corporate Body		105	1.00	7,065,882	1.37
		10,499	100.00	519,185,289	100.00

Registrars

British Land's Share Registrars are Lloyds TSB Registrars, The Causeway, Worthing, West Sussex BN99 6DA. Shareholder enquiry line: 0870 600 3984.

The Registrar's website is: www.shareview.co.uk. Registering on this site will enable you, amongst other features, to view your British Land shareholding online and to opt to receive shareholder mailings electronically.

In addition to being our Share Registrar, Lloyds TSB Registrars are also Registrars for the following British Land stock:

• 10 1/2% First Mortgage Debenture Stock 2019/24
• 11 3/8% First Mortgage Debenture Stock 2019/24

JP Morgan Chase are Registrars of the following British Land stock:

• 8 7/8% First Mortgage Debenture Bonds 2035
• 9 3/8% First Mortgage Debenture Stock 2028

They can be contacted at: JP Morgan Chase Registrars (Capita), The Registry, 34 Beckenham Road, Beckenham, Kent BR3 4TU. Bondholder enquiry line: 0870 162 3128.

Dividend Reinvestment Plan (DRIP)

The Company offers a Dividend Reinvestment Plan. Details of how to join, and relevant dates, can be found under Financial Calendar.

Share dealing service

Lloyds TSB Registrars offer Shareview dealing, a service which allows you to buy or sell British Land's shares if you are a UK resident.

You can deal in your shares on the internet or by phone. Log on to www.shareview.co.uk/dealing or call 0870 850 0852 between 8.30am and 4.30pm, Monday to Friday, for more information about this service and for details of the rates. If you are an existing shareholder, you will need your account/shareholder reference number which appears on your share certificate.

ShareGift

Shareholders with a small number of shares, the value of which makes it uneconomic to sell them, may wish to consider donating them to the charity ShareGift (registered charity 1052686), which specialises in using such holdings for charitable benefit. A ShareGift Donation form can be obtained from Lloyds TSB Registrars, The Causeway, Worthing, West Sussex BN99 6DA.

For further information, contact:
ShareGift, 46 Grosvenor Street, London W1K3HN
Telephone: 020 7828 1151
Website: www.sharegift.org

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