Regulatory News

The Company hereby confirms that the 2^nd Interim Dividend for 2012/13 of 6.6p, as announced on 20^th November 2012, will be a Property Income Distribution (PID). The Company will be offering a scrip alternative with this dividend which will be treated as a Non-Property Income Distribution (Non-PID).

Shareholders will therefore be able to choose between cash, treated entirely as a PID, or shares, treated entirely as a Non-PID.

If a scrip mandate form has previously been completed, and not withdrawn, no action needs to be taken to receive this current dividend payment as shares.

The key dates for the dividend are detailed below. Further information on the dividend, including the scrip mandate form, can be obtained from the Shareholder Centre web pages within the Investor Relations section of the Company's website www.britishland.com and from the Company's Registrars (Equiniti, Aspect House, Spencer Road, Lancing, West Sussex, BN99 6DA, 0871 384 2268, international callers +44 121 415 7593).