Holding(s) in Company

BAE SYSTEMS PLC
31 July 2003

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Name of company

BAE SYSTEMS plc

2. Name of shareholder having a major interest

Barclays PLC via the following legal entities: Barclays Bank Trust Company Ltd; Barclays Private Bank Ltd;
Barclays Global Investors Ltd; Barclays Global Investors Japan Investment Trust; Barclays Life Assurance
Co Ltd; Barclays Global Investors Australia Ltd; Barclays Capital Securities Ltd; Barclays Private Bank
and Trust Ltd; Barclays Bank PLC; Barclays Global Investors, N.A; Barclays Nikko Global Investors Ltd;
Barclays Global Investors Japan Trust & Banking; Barclays Global Fund Advisers

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

Chase Manhattan - 439,092

Chase Manhattan - 29,475,915

Bank of Ireland - 833,984

Barclays Capital Nominees Ltd - 948,570

Barclays Capital Securities Ltd - 129,381

Barclays Global Investors Japan - 32,954

Barclays Trust Co & Others - 55,368

Barclays Trust Co - 1,954

Barclays Trust Co - 23,429

Barclays Trust Co - 3,647

Barclays Trust Co - 198,878

Chase Manhattan - 48,799

Chase Manhattan - 498,184

Chase Manhattan - 865,260

Chase Manhattan - 1,162,451

Chase Manhattan - 2,374,338

Chase Manhattan - 2,775,340

Chase Manhattan - 212,580

Chase Manhattan - 368,075

Chase Manhattan - 26,211,150

Boston Safe Deposit and Trust - 685,394

Chase Manhattan Bank - 13,897,900

Chase Manhattan Bank - 5,363,907

Chase Manhattan Bank - 1,582,562

Chase Manhattan Bank - 12,217,567

Chase Manhattan Bank - 2,602,872

Chase Manhattan Bank - 2,105,190

Chase Manhattan Bank - 43,696

Chase Manhattan - 1,496,827

Citibank N.A. - 328,740

Clydesdale Nominees - 987

Clydesdale Nominees - 900

Cydesdale Nominees - 839

Cydesdale Nominees - 815

Cydesdale Nominees - 1,532

Cydesdale Nominees - 1,136

Cydesdale Nominees - 751

Cydesdale Nominees - 879

Cydesdale Nominees - 1,651

Cydesdale Nominees - 729

Cydesdale Nominees - 2,143

Cydesdale Nominees - 1,030

Cydesdale Nominees - 2,242

Investors Bank and Trust Co - 296,475

Investors Bank and Trust Co - 44,175

Investors Bank and Trust Co - 26,085

Investors Bank and Trust Co - 57,527

Investors Bank and Trust Co - 328,125

Investors Bank and Trust Co - 1,593,468

Investors Bank and Trust Co - 297,468

Investors Bank and Trust Co - 168,578

Investors Bank and Trust Co - 1,644,218

Investors Bank and Trust Co - 41,998

Investors Bank and Trust Co - 81,566

JP Morgan Chase Bank - 815,017

JP Morgan Chase Bank - 557,966

JP Morgan Chase Bank - 88,913

JP Morgan Chase Bank - 39,122

JP Morgan Chase Bank - 347,820

JP Morgan Chase Bank - 529,900

JP Morgan Chase Bank - 412,311

JP Morgan Chase Bank - 439,516

JP Morgan Chase Bank - 69,090

JP Morgan Chase Bank - 366,553

JP Morgan Chase Bank - 330,410

JP Morgan Chase Bank - 60,823

JP Morgan Chase Bank - 127,715

JP Morgan Chase Bank - 94,015

JP Morgan Chase Bank - 43,740

JP Morgan Chase Bank - 33,436

JP Morgan Chase Bank - 1,326,959

JP Morgan Chase Bank - 38,835

JP Morgan Chase Bank - 32,370

JP Morgan Chase Bank - 165,122

Mellon - 461,320

Mitsubishi Trust International - 15,973

Mitsubishi Trust International - 31,325

Mitsubishi Trust International - 52,890

Mitsubishi Trust International - 93,284

Northern Trust Bank - 753,414

Northern Trust Bank - 445,433

State Street - 2,711

State Street - 78,996

State Street - 58,314

State Street - 78,821

State Street - 616

State Street Bank and Trust - 3,117,710

Sumitomo TB - 44,871

Sumitomo TB - 26,067

Sumitomo TB - 36,728

Sumitomo TB - 52,596

Swan Nominees Ltd - 45,899

Swan Nominees Ltd - 5,885

Zeban Nominees Ltd - 145,469


5. Number of shares / amount of stock acquired

N/A

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 disclosed. Figures given as at 25 July 2003

11. Date company informed

30 July 2003

12. Total holding following this notification

123,047,048 ordinary shares

13. Total percentage holding of issued class following this notification

4.02%

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

31 July 2003

The FSA does not give any express or implied warranty as to the accuracy of this
document or material and does not accept any liability for error or omission.
The FSA is not liable for any damages (including, without limitation, damages
for loss of business or loss of profits) arising in contract, tort or otherwise
from the use of or inability to use this document, or any material contained in
it, or from any action or decision taken as a result of using this document or
any such material.


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