I am not familiar with this fault code but I feel your pain. We bought a 2003 TD5 fender last year with what appeared to be a leaking master cylinder. Turns out it was the ABS modulator....no problem, just replace the shuttle valve and the two seals. When I removed and tested the valve assembly, it was fine and then notice brake fluid weeping from the solenoid block above. I gingerly split the solenoid block and found one of the output solenoids was badly corroded and had parted it's casing. 
 
To cut a long story short it was RS and I was now faced with the dilemma of buying a new ABS modulator (eye-wateringly expensive!) or source a good secondhand one (not that cheap and hard to find as you need to have the Defender specific model - Disco ones have different output pipe layout). So I bit the bullet and bought a new one. If you need one, the cheapest I found was here
				
			 
			
		 
			
				
			
			
				Martin
The secret to happiness is to truly want what you already have
Oil leak?...Nah, sophisticated anti corrosion system!
 
'04 D2a TD5 Manual "Snowy" - Daily 
'04 Def 90 TD5 "Hue" - New toy
'03 Def 90 TD5 - Son's toy
'16.5 D4 TDV6 - Gone
  
			
			
		 
	
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