Loan Repayment

British Assets Trust PLC
24 February 2003



To:          RNS

From:          British Assets Trust plc

Date:          24 February 2003



Loan Repayment

British Assets Trust plc announces that it has today repaid in full its 4.25
billion Yen loan which was drawn down on 24 February 2000 under a 3 year
committed revolving credit facility. As a result, the Company's borrowings have
decreased by £22.5 million.



For further information please contact:

Julie Dent, ISIS Asset Management plc:     0131 465 1000

Chris Lunn, UBS Warburg:               0207 568 4848




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