Holding(s) in Company

British Assets Trust PLC
25 July 2003

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Name of company
British Assets Trust plc

2. Name of shareholder having a major interest
Legal & General Group plc

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
As 2

4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them
HSBC Global Custody Nominee (UK) Ltd A/C 914945 - 131,104

HSBC Global Custody Nominee (UK) Ltd A/C 775245 - 1,276,580

HSBC Global Custody Nominee (UK) Ltd A/C 357206 - 10,496,682

HSBC Global Custody Nominee (UK) Ltd A/C 866203 - 482,600

HSBC Global Custody Nominee (UK) Ltd A/C 360509 - 344,384

5. Number of shares / amount of stock acquired
2,430,000

6. Percentage of issued class
0.69

7. Number of shares / amount of stock disposed




8. Percentage of issued class




9. Class of security
Ordinary

10. Date of transaction
23/07/03

11. Date company informed
25/07/03

12. Total holding following this notification
12,731,350

13. Total percentage holding of issued class following this notification
3.6

14. Any additional information




15. Name of contact and telephone number for queries
Andrew Nicholson 0131 465 1071

16. Name and signature of authorised company official responsible for making
this notification
Gordon Hay Smith, Company Secretary

Date of notification
25/07/03

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