Farnborough Air Show

BAE SYSTEMS PLC
21 July 2002



                                RNS announcement

                  BAE SYSTEMS at the Farnborough Air Show 2002


                                                                    22 July 2002

BAE SYSTEMS plc will once again be represented at this year's SBAC show in
Farnborough, the UK's premier showcase for the aerospace industry. The company
will have displays of products and capabilities in the BAE SYSTEMS Pavilion and
both Eurofighter Typhoon and the Hawk Lead In Fighter will be performing flying
displays. As in previous years, a high level of interest is anticipated from the
investment community. No new disclosure of financial information will be given
by the Company in any presentations or meetings during the show.

During the first six months the company has realigned its organisational
structure resulting in changes in management responsibility for certain business
units. The principal areas of change involve businesses previously managed as
part of the Operations business group.

To better align the external reporting of the company's financial reporting with
the internal management structure the Marine shipbuilding and Underwater Weapons
activities will be reported within the Programmes business group and the
Aerostructures activities within the Commercial Aerospace business group. RO
Defence, being the balance of the former Operations business group, will be
reported within the head office and other businesses.

To assist analysts and investors a restatement of the full year and first-half
2001 sector results is attached. There is no change in the company's overall
results as a consequence of these changes.



Issued by:

BAE SYSTEMS plc

London



2001 Reported                                          First Half                               Full Year

                                 £m             Sales    Profit/(Loss)                   Sales       Profit/(Loss)
Programmes                                      1,049               34                   2,310                 138
Customer Solutions & Support                    1,023              190                   2,042                 414
International Partnerships                        799               51                   1,816                 102
Avionics                                          433               37                   1,027                 109
North America                                   1,264              112                   2,577                 250
Operations                                        656               13                   1,277                  39
Commercial Aerospace                            1,509              117                   3,021                 220
HQ and other business                              16              (3)                      28                (12)
Less: Intra-Group                               (457)                                    (960)
TOTAL                                           6,292              551                  13,138               1,260







2001 Restated                                             First Half                             Full Year

                                 £m                Sales   Profit/(Loss)                  Sales      Profit/(Loss)
Programmes                                         1,374              53                  2,847                161
Customer Solutions & Support                       1,023             190                  2,042                414
International Partnerships                           799              51                  1,816                102
Avionics                                             433              37                  1,027                109
North America                                      1,264             112                  2,577                250
Commercial Aerospace                               1,555             110                  3,114                213
HQ and other businesses                              153             (2)                    387                 11
Less: Intra-Group                                  (309)                                  (672)
TOTAL                                              6,292             551                 13,138              1,260




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