Holding(s) in Company

British Assets Trust PLC
25 May 2007

               
TR-1(i):       NOTIFICATION OF MAJOR INTERESTS IN SHARES 

1. Identity of the issuer or the underlying issuer of existing
shares to which voting rights are attached(ii):                          British Assets Trust plc

2. Reason for the notification     (please tick the appropriate box or boxes)

An acquisition or disposal of voting rights                                                 

An acquisition or disposal of financial instruments which may result in the acquisition of   
shares already issued to which voting rights are attached

An event changing the breakdown of voting rights                                            

Other (please specify): Change in issued share capital                                            X

3. Full name of person(s) subject to the notification obligation
(iii):                                                           F&C Asset Management plc

4. Full name of shareholder(s) (if different from 3.)(iv):       FPLP With Profit, With Profit Business
                                                                 Fund


5. Date of the transaction (and date on which the threshold is   22/05/2007
crossed or reached if different)(v):

6. Date on which issuer notified:                                23/05/2007

7. Threshold(s) that is/are crossed or reached:                  3%

8. Notified details:                                             -


A: Voting rights attached to shares
Class/type of    Situation previous to   Resulting situation after the triggering transaction(vii)
shares           the Triggering
                 transaction (vi)
 if possible     Number of   Number of   Number of       Number of voting rights   % of voting rights
using the ISIN   Shares      Voting      shares          ix
CODE                         Rights viii Direct          Direct  x  Indirect xi    Direct   Indirect
GB0001297562     9,181,110   9,181,110   9,181,110       -          9,181,110      -        3.00


B: Financial Instruments
Resulting situation after the triggering transaction xii
Type of financial    Expiration date Exercise/ Conversion      Number of voting rights    % of voting
instrument           xiii            Period/ Date xiv          that may be acquired if    rights
                                                               the instrument is
                                                               exercised/ converted.
-


Total (A+B)
Number of voting rights                            % of voting rights
9,181,110                                          3.00


9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively
held, if applicable xv:

Client                                             No. Of Voting   % of Total Registration name
                                                          Rights       Voting
                                                                       Rights
FPLP With Profit, With Profit Business Fund            9,181,110         3.00 Citifriends Nominees Ltd



Proxy Voting:


10. Name of the proxy holder:                                      F&C Asset Management plc

11. Number of voting rights proxy holder will cease to hold:       n/a

12. Date on which proxy holder will cease to hold voting rights:   n/a

13. Additional information:                               -

14. Contact name:                                    Susan Edgar

15. Contact telephone number:                        0207 628 8000

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