Holding(s) in Company

BAE SYSTEMS PLC
20 December 2004

                                  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 - 520,500

Nomura Trust and Banking - 90,800

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

Bank of New York Brussels - 252,300

Brown Bros Harrimn Ltd Lux - 1,442,835

Chase Manhttn Bk AG Frankfrt - 834,000

Citibank NA, Hong Kong BR - 54,700

Ing Luxembourg - 66,905

JP Morgan Bournemouth - 2,568,620

National Astl Bk Melbourne - 1,930,100

Northern Trust London - 719,400

RBC Global Services - 695,000

State Str Bk and Tr Co Lndon - 742,156

State Street Bank Australia - 935,500

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

Bermuda Trust Far East HK - 725,147

JP Morgan Bournemouth - 16,190,434

Brown Brothers Harriman and Co - 839,846

JP Morgan Chase Bank - 24,881,108

Northern Trust Co - 2,147,700

Northern Trust Co London - 572,700

State Street Bank and Tr Co - 6,169,680

Bank of New York - 1,078,800

Brown Bros Harriman & Co - 4,660,700

CIBC Mellon Trust - 603,110

JP Morgan Chase Bank - 2,004,500

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

Morgan Stanley and Co Inc - 11,700

Northern Trust Co - 4,353,758

Royal Trust - Toronto - 71,600

State Street Bank and Tr Co - 10,948,406

Bank of New York Brussels - 3,874,803

Bankers Trust London - 579,800

Chase Manhattan London - 56,900

Chase Manhatn Bk AG Frankfrt - 411,200

Citibank London - 540,600

Clydesdale Bank plc - 271,000

Dexia Privatbank - 48,000

HSBC Bank plc - 1,058,930

JP Morgan Bournemouth - 5,566,600

Mellon Bank - 1,609,300

Midland Securities Services - 291,300

Nordea Bank AB - 130,300

Northern Trust London - 6,760,540

Societe Generale - 109,700

State Str Bk and Tr Co Lndn - 6,224,390

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 16 December 2004

11. Date company informed

17 December 2004

12. Total holding following this notification

122,925,568 shares

13. Total percentage holding of issued class following this notification

4.05%

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

20 December 2004

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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