Foreign held Ordinary Shares

BAE SYSTEMS PLC
22 March 2002


BAE SYSTEMS - Level of Foreign-held Shares


BAE SYSTEMS announces that at 21 March 2002 the register of Foreign-held shares
maintained pursuant to Article 43 of the Company's Articles of Association
indicated that 1,486,690,834 shares representing 48.70% of the issued ordinary
share capital of the Company were foreign-held shares compared to the Aggregate
Foreign Shareholding Restriction limit of 49.5%.

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