Transaction in Own Shares

British Assets Trust PLC
23 September 2004

To:                RNS

From:              British Assets Trust PLC

Date:              23 September 2004



British Assets Trust PLC

Transaction in Own Shares

On 23 September 2004 British Assets Trust plc bought 2,200,000 of its own
ordinary shares for cancellation at a price of 100.25p each.  There are
337,812,282 ordinary shares in issue following this repurchase.



Gordon Hay Smith

Company Secretary, British Assets Trust PLC





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