Dividend Declaration

BRITISH ASSETS TRUST PLC
3 September 1999


Third Quarterly Dividend

The Board of British Assets Trust announces that it is declaring a third
quarterly dividend, in respect of the year to 30 September 1999, of 1.24625
pence (1998 - 1.20625 pence) on the ordinary shares of the Company.  This
dividend will be paid on 7 October 1999 to shareholders on the register on 17
September 1999.

For further information please contact:


Gordon Humphries
Friends Ivory & Sime plc:  0131 465 1000