AGM Statement

BAE SYSTEMS PLC
3 May 2002

                   BAE SYSTEMS Annual General Meeting - 2002

Addressing today's Annual General Meeting of the shareholders of BAE SYSTEMS plc
Sir Richard Evans, Chairman, made the following statement:

 ' As you will be aware, John Weston resigned as Chief Executive earlier this
year and Mike Turner was appointed to succeed him. I think its appropriate for
me to record our thanks to John for the substantial contribution he made to this
Company in the thirty years he was with us, which included the successful
integration of British Aerospace with GEC's MES business.

Our new Chief Executive, Mike Turner, has wide experience of all aspects of our
business, having played a major role in its strategic development in recent
years.

One of Mike's primary tasks is to deliver a continuation of the strategy
developed by the Board over a number of years and which has been reported to
shareholders on a regular basis.

At the time that we appointed Mike we also made the statement that trading
remained in line with the guidance the Company gave as to the outlook for the
business at the time of the Preliminary Results in February. I would like to
confirm to you now that there has been no change in this position.

Contained in the Notice of Meeting for today's AGM is a resolution to amend our
Articles of Association so as to allow us to appoint non-British executive
directors. If this resolution is passed, it is the Board's intention to appoint
Mark Ronald to the Board later today. Mark is a US citizen and is presently
Chief Operating Officer with responsibility for our North American business.

Sir Ronald Hampel will be retiring from the Board at the end of this month after
having been a director of the company for 12 years. I would like to take this
opportunity to thank him for the valuable contribution he has made during his
time on the Board and to wish him all the best in the future.

Finally, my contractual retirement age at present is 60. I will reach that age
this year. However, after discussions with the Board, it has been agreed that I
will remain Chairman of the Company beyond that date. '

A further statement will be issued to announce the results of voting on the
resolutions contained in the Notice of Meeting for today's meeting.

Issued by:

BAE SYSTEMS plc

London

3 May 2002



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