Dividend Declaration

British Assets Trust PLC
30 January 2003

BRITISH ASSETS TRUST PLC




TO:     RNS


DATE: 30 January 2003


FROM: British Assets Trust plc




First Quarterly Dividend


The Board of British Assets Trust plc announces that it is declaring a first
quarterly dividend, in respect of the year to 30 September 2003, of 1.304 pence
per share on the ordinary shares of the Company. This dividend will be paid on
11 April 2003 to shareholders on the register on 14 March 2003.


The last date for receipt of mandate instructions for those shareholders who
wish to join the Dividend Reinvestment Plan is 21 March 2003.


For further information please contact:




Gordon Hay Smith

Company Secretary: 0131 465 1000







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