British Land First Quarter Report to 30 June 2008

Contents:

• Front cover   |
• Financial summary   |
• Review by the Chief Executive, Stephen Hester   |
• Management Focus   |
• Markets   |
• Sector and Asset Selection   |
• Asset Management   |
• Development   |
• Portfolio Valuation   |
• Financial Results   |
• Consolidated Income Statement   |
• Consolidated Balance Sheet   |
• Consolidated Statement of Recognised Income and Expense   |
• Consolidated Cash Flow Statement   |
• Notes to the accounts (unaudited)   |

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