Holding(s) in Company

BAE SYSTEMS PLC
31 January 2005

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Name of company
BAE SYSTEMS plc

2. Name of shareholder having a major interest

FMR Corp and its direct and indirect subsidiaries, and Fidelity International
Limited and its direct and indirect subsidiaries

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
State Street Hong Kong - 67,300

Bank of New York Europe Ldn - 6,682,600

Master Trust Bank of Japan - 532,900

Nomura Trust and Banking - 90,800

Trust & Cust Svcs Bk Ltd, Toko - 81,800

Bank of New York Brussels - 259,500

Brown Bros Harrimn Ltd Lux - 30,090,618

Chase Manhttn Bk AG Frankfrt - 834,000

Citibank NA, Hong Kong BR - 61,300

Ing Luxembourg - 66,905

JP Morgan Bournemouth - 2,754,337

National Astl Bk Melbourne - 1,930,100

Northern Trust London - 719,400

RBC Global Services - 637,600

State Str Bk and Tr Co Lndon - 782,796

State Street Bank Australia - 959,700

State Street Bank T&B Co Ltd Tokyo - 97,100

Bermuda Trust Far East HK - 725,147

JP Morgan Bournemouth - 16,774,836

Brown Brothers Harriman and Co - 1,065,849

JP Morgan Chase Bank - 26,996,317

Northern Trust London - 572,700

State Street Bank and Tr Co - 7,130,180

Bank of New York - 1,109,400

Brown Bros Harriman & Co - 4,660,700

CIBC Mellon Trust - 590,567

JP Morgan Chase Bank - 2,004,500

Mellon Bank N.A. - 2,288,200

Morgan Stanley and Co Inc - 23,300

Northern Trust Co - 4,342,415

Royal Trust - Toronto - 71,600

State Street Bank and Tr Co - 10,830,306

Bank of New York Brussels - 3,206,003

Bankers Trust London - 682,500

Chase Manhattan London - 56,900

Chase Manhatn Bk AG Frankfrt - 413,200

Citibank London - 631,700

Clydesdale Bank plc - 295,400

Dexia Privatbank - 48,000

HSBC Bank plc - 1,177,930

JP Morgan Bournemouth - 6,776,400

Mellon Bank - 1,814,800

Midland Securities Services - 342,100

Nordea Bank AB - 130,300

Northern Trust London - 7,532,940

Societe Generale - 109,700

State Str Bk and Tr Co Lndn - 3,376,102

State Street Munich - 63,200


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 28 January 2005

11. Date company informed
31 January 2005

12. Total holding following this notification
152,491,948 shares

13. Total percentage holding of issued class following this notification
5.02%

14. Any additional information
Notification received under s198 CA85

15. Name and contact details of authorised company official responsible for
making this notification
Ann-Louise Holding, Assistant Company Secretary (tel: [phone])

16. Date of notification
31 January 2005

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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