Foreign-held Ordinary Shares

BAE SYSTEMS PLC
20 March 2002

BAE SYSTEMS - Level of Foreign-held Shares

BAE SYSTEMS announces that at 19 March 2002 the register of Foreign-held shares
maintained pursuant to Article 43 of the Company's Articles of Association
indicated that 1,466,979,966 shares representing 48.06% of the issued ordinary
share capital of the Company were foreign-held shares compared to the Aggregate
Foreign Shareholding Restriction limit of 49.5%.

20 March 2000





Enquiries:

Press & Media:          Hugh Colver (tel: [phone])

Investor Relations:     Andrew Wrathall (tel: [phone])

Company Secretarial:    David Parkes (tel: [phone])



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