Land Securities' Chairman Peter Birch steps down (UK)

Land Securities announces that Peter Birch (69), non-executive Chairman, has stepped down from the Board and as Chair on 1 January, 2007, following a highly successful nine years with the Group.

Commenting, Francis Salway, Chief Executive, said: "Peter made a tremendous contribution to the Group as Chairman, working with the executive management team to transform the Group from a diversified investment and development company into a highly focused, modern, commercial property company. Peter's influence on the strategic direction of the Group has been invaluable and his vision has resulted in sustained value creation for shareholders. Together with my fellow Board Directors and colleagues across the Group, I would like to thank him for his wise counsel, enthusiasm and boundless energy. We wish him well"

Peter Birch added: "It has given me enormous satisfaction to see Land Securities achieve so much over the past few years, during which time its has reaffirmed its market leading position in the UK quoted property sector. It has been a great honour to lead the company during this period of sustained change and I would like to wish my colleagues continued success in the future."

Paul Myners (58), former Chairman of Marks and Spencer Group PLC, who joined the Board in September 2006 became non-executive Chairman on 1 January 2007.

Source: Land Securities

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