Structural Change re Man Co.

British Assets Trust PLC
26 February 2007


To:     RNS
From:   British Assets Trust plc
Date:   26 February 2007


Structural Change re Management Company

Effective as of today, F&C Asset Management plc has novated the investment
management agreement with the Company to F&C Investment Business Limited, one of
its wholly-owned subsidiaries.  There are no changes to the terms of the
investment management agreement with the Company.  This novation forms part of a
structural change in F&C Asset Management's business under which it is
relinquishing its authorisation by the Financial Services Authority.

In addition, further to comments made in the announcement of the Company's
annual results on 14 November 2006, the Board has agreed with F&C that the
Company's UK portfolio will be managed by the London-based F&C UK Equities Team,
headed by Peter Lees.


G R Hay Smith
Company Secretary
Tel: [phone]




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