Holding(s) in Company

Associated British Engineering PLC
30 October 2002

                                        63 Church Street
                                        Harston
                                        Cambridge
                                        CB2 5NP

                                        Tel [phone]
                                        Fax [phone]

30 October 2002

To;
The Company Announcements Office
The Stock Exchange

From;
Mrs K M Good
Company Secretary
Associated British Engineering PLC


Dear Sirs

Notification of change in major interest in shares

Pursuant to section 198 of the Companies Acts 1985 please note that we have been
notified that the number of Associated British Engineering plc ordinary shares
in which Magro Investments SA is interested in has increased from 62,901 (4.79%)
to 67,901 shares, equivalent to 5.17% of the issued ordinary capital.

The existing shares are, and the additional shares now acquired, will be
registered in the name of Pershing Keen Nominees Ltd (PSL991). This purchase
took place on 28 October 2002.

We have been advised of this information this morning.


Yours faithfully

K M Good (Mrs)
Company Secretary


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