Holding in Company

British Assets Trust PLC
16 January 2001

                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     BRITISH ASSETS TRUST PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     ZURICH FINANCIAL SERVICES GROUP

3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18



4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

     LITTLEDOWN NOMINEES LTD A/C 02642 -   103,848

     LITTLEDOWN NOMINEES LTD A/C 02891 - 1,870,170

5)   Number of shares/amount of stock acquired.



6)   ( N/A %) of issued Class

7)   Number of shares/amount of stock disposed



8)   ( N/A %) of issued Class

9)   Class of security

     GROWTH SHARES 25p

10)  Date of transaction



11)  Date company informed

     16/01/01

12)  Total holding following this notification

     1,974,018                       
              
13)  Total percentage holding of issued class following this notification

     4.15%

14)  Any additional information

     THIS IS AS A RESULT OF A CHANGE IN THE NUMBER OF GROWTH SHARES IN ISSUE.

15)  Name of contact and telephone number for queries

     DEREK OSBORNE: 0131 465 1000

16)  Name and signature of authorised company official responsible for 
     making this notification

     Date of Notification: 16 JANUARY 2001