Dividend Declaration

British Assets Trust PLC
18 August 2004

BRITISH ASSETS TRUST PLC


TO:     RNS

DATE: 18 August 2004

FROM: British Assets Trust plc


Third Quarterly Dividend

The Board of British Assets Trust plc announces that it is declaring a third
quarterly dividend, in respect of the year to 30 September 2004, of 1.304 pence
per share on the ordinary shares of the Company. This dividend will be paid on 8
October 2004 to shareholders on the register on 10 September 2004.

The last date for receipt of mandate instructions for those shareholders who
wish to join the Dividend Reinvestment Plan is 17 September 2004.

For further information please contact:

Gordon Hay Smith
Company Secretary: 0131 465 1000



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