Operating and Financial Review

• Overview
• Statements
• Operating and Financial Review
  • Introduction
  • Objectives and strategy
  • British Land's activity in 2006/7
  • Portfolio reshaping
  • Development
  • Asset management
  • Portfolio composition and valuation
  • Property market outlook
  • Retail sector
  • Office sector
  • Financial performance
  • Finance and capital structure
  • Key performance indicators
  • Risk management
  • Partnerships
  • People
  • Forward looking statements
• Corporate Responsibility
• Portfolio Highlights
• Governance
• Financial Statements
• Financial Calendar
• Shareholder Information
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• Operating and Financial Review
• Forward looking statements

In preparing this Business Review we have had regard to the recommendations and guidance issued by the Accounting Standards Board, insofar as we consider they are relevant to our business model and industry. We have provided herein a commentary on our markets, activities and prospects. Readers will understand that where we make forward looking statements they reflect our current views; future results will depend on many factors and interactions which may cause outcomes to differ from those anticipated.