Holding(s) in Company

BAE SYSTEMS PLC 26 February 2007 TR-1: Notification of Major Interests in Shares 1. Identity of the issuer or BAE Systems Plc the underlying issuer of existing shares to which voting rights are attached 2. Reason for the notification (please tick the appropriate box or boxes) An acquisition or disposal of voting rights ( ) An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached ( ) An event changing the breakdown of voting rights - see Section C ( X ) 3. Full name of person(s) subject to the notification obligation FMR Corp 4. Full name of shareholder (s) (if different from 3.) See attached schedule 5. Date of the transaction and date on which the threshold is crossed or reached Revised due to DTR rules 6. Date on which issuer notified 23 February 2007 A: Voting rights attached to shares Class/type of shares Situation previous to Resulting situation after the triggering transaction the Triggering transaction Number of Number of Number of Number of Voting Rights % of Voting Rights Shares Voting Shares If possible using the Rights ISIN CODE Direct Direct Indirect Direct Indirect ISIN - GB0002634946 57,367,261 57,367,261 57,367,261 1.79% B. Financial Instruments Resulting situation after the triggering transaction Type of Financial Expiration Date Exercise/Conversion Number of Voting % of Voting Rights Instrument Period/Date Rights that may be acquired if the instrument is exercised/converted Total (A+B) Number of Voting Rights % of Voting Rights 57,367,261 1.79% 9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable See attached schedule Proxy Voting: 10. Name of the proxy holder: FMR Corp 11. Number of voting rights proxy holder will cease/acquire to hold: N/A 12. Date on which proxy holder will cease/acquire to hold voting N/A rights: 13. Additional information: As discussed with the FSA, prior to the implementation of the EU Transparency Directive, we aggregated the interests in shares of FMR Corp (FMR) and Fidelity International Limited (FIL) together for the purposes of shareholder reporting. According to the new DTR rules we are now reporting the indirect holdings of FMR and FIL separately. A separate notification is being submitted for FIL. Please note these holdings are correct as of close of business 21 February 2007. 14. Contact Name Laura Cotterell 15. Contact telephone number: 01737 837148 Annex to Notification of Major Interests in Shares A: Identity of the person or legal entity subject to the notification obligation Full name (including legal form for legal FMR Corp entities) Contact address (registered office for legal 82 Devonshire Street, Boston, MA, 02109 USA entities) Phone number 01737 837148 Other useful information (at least legal Company Secretary representative for legal persons) B: Identity of the notifier, if applicable Full name Fidelity Investments Contact address Windmill Court XTW2B, Millfield Lane, Lower Kingswood, Tadworth, Surrey KT20 6RB Phone number 01737 837148 Other useful information (e.g. functional Authorised to make this filing under power of relationship with the person or legal entity attorney subject to the notification obligation) C: Additional information As discussed with the FSA, prior to the implementation of the EU Transparency Directive, we aggregated the interests in shares of FMR Corp (FMR) and Fidelity International Limited (FIL) together for the purposes of shareholder reporting. According to the new DTR rules we are now reporting the indirect holdings of FMR and FIL separately. A separate notification is being submitted for FIL. Please note these holdings are correct as of close of business 21 February 2007. FMR BAE SYSTEMS PLC Current ownership percentage: 1.79% Total shares held: 57,367,261 Shares in issue: 3,205,444,647 FRM Corp is the parent holding company of Fidelity Management & Research Company (FMRCO), investment manager for US mutual funds, and Fidelity Management Trust Company (FMTC), a US state chartered bank which acts as a trustee or investment manager of various pension and trust accounts SHARES HELD UK NOMINEE MANAGEMENT COMPANY 6,792,180 STATE STREET BANK AND TR CO FMTC 393,700 STATE STREET BANK AND TR CO FMRCO 74,120 STATE STREET BANK AND TR CO FMR 761,270 STATE STREET BANK AND TR CO FICL 109,965 ROYAL TRUST - TORONTO FMTC 34,800 NORTHERN TRUST LONDON FMRCO 3,627,201 NORTHERN TRUST CO FMTC 125,100 NORTHERN TRUST CO FMRCO 93,700 MELLON BANK NA FMR 550,866 MELLON BANK N.A. FMTC 129,700 MELLON BANK N.A. FMRCO 159,400 JP MORGAN CHASE BANK FPM 1,514,000 JP MORGAN CHASE BANK FMTC 34,672,109 JP MORGAN CHASE BANK FMRCO 7,283,800 BROWN BROTHERS HARRIMAN & CO FRMCO 91,650 BANK OF NEW YORK FRMCO 953,700 BANK OF NEW YORK FMTC This information is provided by RNS The company news service from the London Stock Exchange

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