X-Leisure unit holder approval for acquisition

21 December 2012

Land Securities Group PLC ("Land Securities")

LAND SECURITIES' ACQUISITION OF X-LEISURE'S MANAGEMENT COMPANY receives unit-holder approval

Unit-holders in the X-Leisure Unit Trust have today approved Land Securities' acquisition of 100% interests in X-Leisure Limited (the management company of the fund) and X-Leisure (General Partner) Limited from Capital & Regional plc and AREA Property Partnership (UK) LLP.

This is an important step in Land Securities' transaction to acquire a further 42% interest in X-Leisure Unit Trust and 100% interests in X-Leisure Limited (the management company of the fund) and X-Leisure (General Partner) Limited from Capital & Regional plc and AREA Property Partnership (UK) LLP. However, the transaction remains conditional and is subject to:

·; approval from Capital & Regional shareholders for the sale of their interests in both the fund and the management company; and

·; bank consents and regulatory approvals

Richard Akers, Executive Director at Land Securities said:

"We have set out our plan to increase the proportion of leisure in our business and today's announcement represents a significant hurdle cleared in the purchase of the majority of the X-Leisure fund and responsibility for the management of the assets."

Land Securities will issue further updates on the transaction in due course.

-Ends-

Notes to editors:

X-Leisure owns 16 schemes across the UK including X-scape in Milton Keynes and Brighton Marina.

For further information, please contact:

Land Securities Group PLC

Press Investors

Donal McCabe Edward Thacker

T: +44 (0)20 7024 5460 T: +44 (0)20 7024 5185

[email protected] [email protected]