23rd Jun 2005 08:27
Land Securities Group Plc23 June 2005 23 June 2005For immediate release LAND SECURITIES GROUP PLC ("Land Securities") LAND SECURITIES HOSTS SEMINAR ON TRANSITION TO INTERNATIONAL FINANCIAL REPORTINGSTANDARDS Land Securities Group PLC ("Land Securities" / "Group") announces that it istoday holding an International Financial Reporting Standards ("IFRS") seminar atthe London Stock Exchange, Paternoster Square, London, EC4M, which will explainthe technical adjustments made to the Group's UK GAAP financial statements forthe year to 31 March 2005 on the adoption of IFRS. The seminar will be hosted by Andrew Macfarlane, Land Securities' Group FinanceDirector. The presentations will cover the following topics:- • reconciliation of UK GAAP profit and loss account to IFRS incomestatement • reconciliation of UK GAAP balance sheet to IFRS balance sheet Land Securities will be issuing a further press release detailing the effect ofIFRS on its income statement and balance sheet at 9.00am and at the same time alive audio webcast of the presentations will be available on the Group's website(www.landsecurities.com/IFRS2005). The presentation slides, speaker notes andan archive audio webcast will also be available on the website later today. Important notice The information contained in this press release and the seminar is based on ourcurrent interpretation of IFRS. -Ends- For further information, please contact: Land Securities Financial DynamicsAndrew Macfarlane/Emma Denne Andrew Dowler/Dido LaurimoreTel: +44(0) 20 7413 9000 Tel: +44(0) 20 7831 3113 Note to Editors Land Securities is a FTSE100 company, quoted on the London Stock Exchange. Ithas been at the forefront of the UK's commercial property industry for over 60years. Today, the Group maintains its market leading position as the UK'slargest quoted property company by providing commercial accommodation andproperty services to a wide range of occupiers. The Group's objective is tocreate attractive, sustainable returns for its shareholders through a strategyof investing in commercial property in markets and activities where it hasexpertise and operational skills, where it can benefit from its risk managementskills and the active recycling of capital. Land Securities holds a market leading position in three areas of the UKcommercial property market: • Retail, • London offices and • Property outsourcing. Its £9.4 billion combined investment portfolio includes over 10 million sq feetof office and retail space in Central London and 21 shopping centres and 26retail parks located across the UK. It has a substantial development programme with a number of development projectsincluding major retail-led urban regeneration schemes and Central Londonmixed-use developments. The Group is also masterplanning one of Europe'slargest regeneration schemes in Kent Thameside. The Group leads the market in property outsourcing where, through LandSecurities Trillium, it provides accommodation and property-related services tothe Department for Work and Pensions, the BBC, Norwich Union, Barclays Bank,DVLA and through a joint venture, Telereal, to BT. The Group is committed to environmental initiatives and community involvementrecognised by the Group's inclusion in the BiTC Corporate Responsibility Index,FTSE4Good Index and the Dow Jones Sustainability Index. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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