AGM Statement

BAE SYSTEMS PLC
04 May 2005



                     BAE Systems plc Annual General Meeting

                                                                      4 May 2005

Commenting at today's Annual General Meeting of the company's shareholders BAE
Systems Chairman, Dick Olver, confirmed that the company's trading outlook
remained unchanged from that described in the company's 2004 Report and Accounts
published earlier this year.

In addition good progress on the strategic development of the company was
reported with completion of the Eurosystems transaction on 29 April. Shareholder
approval for the proposed acquisition of United Defence Industries will be
sought on 13 May with completion subject to receipt of outstanding regulatory
approvals.

Dick Olver also took the opportunity to thank Lord Hesketh, who retires from the
Board today, for his contribution as a non-executive director of the company.

Issued by

BAE Systems plc

London






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