Land Securities Regulatory News (LAND)

LAND SECURITIES GROUP PLC

27 September 2011

LAND SECURITIES GROUP PLC

SCRIP CALCULATION PRICE

Land Securities Group PLC (the "Company") offers shareholders the opportunity to elect for Ordinary Shares credited as fully paid in lieu of cash dividends by participating in it's Scrip Dividend Scheme (the "Scheme").

On 19 July 2011, the Company announced a first interim dividend of 7.2 pence per Ordinary Share for the financial year ending 31 March 2012. The scrip calculation price for those who elected to receive the scrip alternative is 654 pence.

Following changes to the Scrip Dividend Terms and Conditions approved by shareholders at the 2011 AGM and the timetable announced by the Company on 25 July 2011, the scrip calculation price was the average of the closing middle market quotations of an Ordinary Share, derived from the London Stock Exchange Daily Official List, for the five consecutive business days from 20 to 26 September 2011 (inclusive). The deadline for applications under the Scheme was 19 September 2011.

The payment of the dividend will occur on 24 October 2011 to shareholders on the register on 16 September 2011.

Copies of the Mandate Form and terms and conditions for the Scheme may be obtained from Equiniti (UK callers: 0871 384 2268, calls charged at 8p per minute from a BT landline) overseas callers: +44 121 415 7046) or from www.landsecurities.com

Name of person making notification: Phil Higgins, Deputy Secretary

Contact number: 020 7413 9000

Date of notification: 27 September 2011