Holding(s) in Company

BAE SYSTEMS PLC
21 June 2002

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Name of company
BAE SYSTEMS plc

2. Name of shareholder having a major interest
Franklin Resources, Inc and affiliates

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
Bankers Trust Company - 2,551,352

Bank of New York Europe Ltd - 30,448

Bank of New York, London - 2,901,575

Cede, New York - 3,963,176

Chase Nominees Ltd - 154,736,635

Citibank Nominees Ltd - 501,076

Clydesdale Bank PLC - 11,654,054

Deutsche Bank AG - 432,037

Goldman Sachs Securities Nominees - 1,281,668

HSBC Bank - 520,086

Merrill Lynch - 3,675,211

Morgan Stanley Securities - 7,328

Northern Trust Company - 3,765,853

Royal Trust Corp of Canada - 9,624,617

State Street Nominees Ltd - 19,101,645




5. Number of shares / amount of stock acquired
Not disclosed

6. Percentage of issued class
N/A

7. Number of shares / amount of stock disposed
N/A

8. Percentage of issued class
N/A

9. Class of security
Ordinary shares of 2.5 pence each

10. Date of transaction
Not known. Disclosure given as at 19 June 2002





11. Date company informed
20 June 2002

12. Total holding following this notification
214,746,761

13. Total percentage holding of issued class following this notification
7.0345%

14. Any additional information
Notification received under s198 CA85

15. Name of contact and telephone number for queries
Ann-Louise Holding [phone]

16. Name and signature of authorised company official responsible for making
this notification
Ann-Louise Holding, Assistant Company Secretary

Date of notification
21 June 2002

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