Holding in Company

BAE SYSTEMS PLC
11 September 2001

                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     BAE SYSTEMS PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

      BARCLAYS PLC (THROUGH ITS SUBSIDIARY, BARCLAYS BANK PLC)

3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18

      SHAREHOLDER NAMED IN 2 ABOVE.

4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

       SEE BELOW

5)   Number of shares/amount of stock acquired.

     N/A

6)   ( N/A %) of issued Class

7)   Number of shares/amount of stock disposed

      N/A

8)   ( N/A %) of issued Class

9)   Class of security

      ORDINARY SHARES OF 2.5P EACH

10)  Date of transaction

      NOT SUPPLIED

11)  Date company informed

      11 SEPTEMBER 2001

12)  Total holding following this notification

      93,632,529 ORDINARY SHARES
               
13)  Total percentage holding of issued class following this notification

      3.06%

14)  Any additional information

     INFORMATION SUPPLIED AS AT 5 SEPTEMBER 2001

15)  Name of contact and telephone number for queries

     ANN-LOUISE HOLDING  TEL: [phone]

16)  Name and signature of authorised company official responsible for 
     making this notification   ANN-LOUISE HOLDING

     Date of Notification ..11 SEPTEMBER 2001....

May 2000                                                          Holding

MSTC Nominees Ltd                                                   57,295
MSTC Nominees Ltd                                                   59,388
Unknown                                                            108,575
Baclays Capital Nominees Ltd                                     2,550,624
Bank of Ireland Nominees Ltd desig 537960                          291,616
Bank of Ireland Nominees Ltd desig 73520                           359,401
Dematerialised                                                      23,429
Chase Nominees Ltd   desig 16331                                 1,144,547
Chase Nominees Ltd   desig 16338                                    86,062
Chase Nominees Ltd   desig 16341                                 2,807,004
Chase Nominees Ltd   desig 16342                                   180,437
Chase Nominees Ltd   desig 16344                                    38,135
Chase Nominees Ltd   desig 16376                                   544,451
Chase Nominees Ltd   desig 16400                                28,153,976
Chase Nominees Ltd   desig 16530                                 6,956,741
Chase Nominees Ltd   desig 18408                                   184,029
Chase Nominees Ltd   desig 20947                                 5,283,104
DEM69                                                              218,129
Barclays Bank Trust Co Ltd & third party nominee                     4,922
Barclays Bank Trust Co Ltd as executor                              20,863
Unknown                                                              2,094
Barclays Bank Trust Co Ltd - IMA                                     2,285
Chase Manhattan Bank London                                     15,088,669
Twenty Nine Gracechurch Street Nominees Limited a/c 5782A        2,216,197
Unknown                                                          1,068,399
Unknown                                                             48,472
Unknown                                                             87,505
Unknown                                                              7,730
Unknown                                                             30,953
Unknown                                                             55,185
Barclays Bank Trust Co Ltd and another                              44,154
Unknown                                                         25,583,158
Nutraco Nominees Ltd                                               325,000