Holding(s) in Company

BAE SYSTEMS PLC 26 February 2007 TR-1: Notification of Major Interests in Shares 1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached BAE Systems Plc 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 Fidelity International Limited (FIL) 4. Full name of shareholder See attached schedule (s) (if different from 3.) 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 30,591,887 30,591,887 30,591,887 0.95% 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 30,591,887 0.95% 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: Fidelity International Limited (FIL) 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 FMR Corp. 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 Fidelity International Limited (FIL) entities) Contact address (registered office for legal Pembroke Hall, 42 Crow Lane, Pembroke, HM19 entities) Bermuda 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 International 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 FMR Corp. Please note these holdings are correct as of close of business 21 February 2007. FIL BAE SYSTEMS PLC Current ownership percentage: 0.95% Total shares held: 30,591,887 Shares in issue: 3,205,444,647 Fidelity International Limited (FIL) is the parent holding company for various direct and indirect subsidiaries, including Fidelity Fund Management Limited (FFML), Fidelity Investment Services Ltd (FISL), Fidelity Gestion (FIGEST), Fidelity Investments Advisory (Korea) Limited (FIAKL), Fidelity Investments Management (Hong Kong) Limited (FIMHK), Fidelity Pension Management (FPM), Fidelity Investments Japan (FIJ), and Fidelity Investments International (FII), investment managers for various non-US investment companies and institutional clients. MANAGEMENT SHARES HELD UK NOMINEE COMPANY 111,350 TRUST&CUST SVCS BK LTD, TOKO FIJ 65,400 STATE STREET HONG KONG FIA(K)L 929,800 STATE STR BK AND TR CO LNDN (S FPM 112,600 STATE STR BK AND TR CO LNDN (S FIL 1,773,900 NORTHERN TRUST LONDON FPM 412,000 NORTHERN TRUST LONDON FIL 247,200 NORTHERN TRUST CO FIL 46,000 NORDDEUTSCHE LANDERSBANK FIL 217,800 NOMURA TRUST AND BANKING FIJ 48,402 MORGAN STANLEY LONDON FIL 219,900 MIDLAND SECURITIES SERVICES FPM 876,000 MELLON BANK 326,900 MASTER TRUST BANK OF JAPAN FIJ 683,600 JPMORGAN, BOURNEMOUTH FIL 1,548,300 JPMORGAN, BOURNEMOUTH FPM 6,030,252 JPMORGAN, BOURNEMOUTH FISL 6,522,355 JPMORGAN, BOURNEMOUTH FIL 622,500 HSBC BANK PLC FPM 29,300 DEXIA PRIVATBANK FPM 56,200 CHASE MANHTTN BK AG FRNKFRT (S FPM 537,600 CDC FINANCE FIGEST 328,400 BROWN BROTHERS HARRIMAN & CO FIL 366,792 BROWN BROTHERS HARRIMAN & CO FIJ 3,727,935 BROWN BROS HARRIMN LTD LUX FIL 207,200 BNP PARIBAS, PARIS FIL 668,950 BNP PARIBAS, PARIS (C) FIL 935,434 BERMUDA TRUST FAR EAST HK FIM HK 2,042,600 BANK OF NEW YORK EUROPE LDN FII 897,217 BANK OF NEW YORK BRUSSELS FPM This information is provided by RNS The company news service from the London Stock Exchange

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