Top 10 Holdings

British Assets Trust PLC
4 October 2004

To:               RNS
From:             British Assets Trust
Date:             04 October 2004



Listing Rule 21


In accordance with paragraph 21.20 l (ii) of the Listing Rules British Assets
Trust announces its top ten holdings, including all holdings with a value
greater than 5% of its gross assets, as at 30 September 2004:


British Assets Trust
Top 10 Holdings
Company                                            % Total Assets
BP                                                 5.8
HSBC                                               4.9
Vodafone                                           4.7
Glaxosmithkline                                    3.8
Shell                                              2.8
RBS Grp                                            2.7
Barclays                                           2.0
Astrazeneca                                        1.7
HBOS                                               1.6
Lloyds TSB Grp                                     1.5
Holdings greater than 5% of total fund value
BP                                                 5.8



For further information please contact:

Gordon Hay Smith
ISIS Asset Management plc
0131 465 1000




                      This information is provided by RNS
            The company news service from the London Stock Exchange