Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

Land Securities Group PLC

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

Intra-group transfer

ü

3. Full name of person(s) subject to thenotification obligation: iii

Peel Holdings Limited

4. Full name of shareholder(s)  (if different from 3.):iv

Halifax Share Dealing Limited

BBHISL Nominees Limited

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

31 January 2012

6. Date on which issuer notified:

2 February 2012

7. Threshold(s) that is/are crossed orreached: vi, vii

See box 13

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

GB0031809436

30586060

30586060

30586060

30586060

3.925%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

-

-

-

-

-

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

-

-

-

-

-

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

30,586,060

3.925%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

Shareholding in aggregate of 30,586,060 through Albright Investments Limited and Peel Holdings Investments (LS) Limited, both controlled undertakings of Peel Holdings Limited (parent company). Legal title to the shares is held by the nominees in box 4 above.

Proxy Voting:

10. Name of the proxy holder:

-

11. Number of voting rights proxy holder will ceaseto hold:

-

12. Date on which proxy holder will cease to holdvoting rights:

-

13. Additional information:

The voting rights attaching to 7,750,000 Land Securities Group plc shares have been transferred, under an intra-group transfer, from Albright Investments Limited to Peel Holdings Investments (LS) Limited. Both Albright Investments Limited and Peel Holdings Investments (LS) Limited are controlled undertakings of Peel Holdings Limited. Albright Investments Limited (which had previously notified its interest) no longer has a notifiable interest - now below 3%

14. Contact name:

Phil Higgins

15. Contact telephone number:

0207 024 5219