Matching Share Plan ("MSP") - Vesting

The British Land Company PLC (the "Company") announces that on 03 August 2016 it received notification from the Trustees of The British Land Employee Share Trust of the partial vesting on 02 August 2016 of the MSP Matching Share awards granted to Chris Grigg, Lucinda Bell, Charles Maudsley and Tim Roberts, Executive Directors of the Company, and to Nigel Webb, a Person Discharging Managerial Responsibilities of the Company ("PDMR"), on 02 August 2013. The Matching Share awards vested at 50% as the MSP's Gross Income Growth performance test had been fully attained whereas the Total Shareholder Return performance test had not been met.

In accordance with the terms of the MSP, the MSP Bonus Shares that were purchased by the MSP participants on 02 August 2013 using proportions of their retained Annual Incentive awards were released on 02 August 2016.

Following the vesting Chris Grigg sold 29,928 shares, Lucinda Bell sold 12,886 shares, Charles Maudsley sold 13,994 shares, Tim Roberts sold 13,994 shares and Nigel Webb sold 6,582 shares, all at a price of £6.6088 per share, to cover their respective tax liabilities. Tim Roberts transferred 15,720 shares to his wife, Sarah Roberts, and Nigel Webb transferred 7,392 shares to his wife, Philippa Webb.

Fund Managers Performance Plan ("FMPP") - Vesting

The Company further announces that on 02 August 2016 the third tranche of the FMPP awards granted to Darren Richards and Nigel Webb, each a PDMR, on 02 August 2013 vested.

Following the vesting Darren Richards sold 3,355 shares and Nigel Webb sold 12,580 shares, both at a price of £6.6088 per share, to cover their respective tax liabilities. Nigel Webb transferred the remaining 14,131 shares to his wife, Philippa Webb.

The above transactions took place in London.

This notification is made in accordance with the requirements of DTR 3.1.4 R