Holding(s) in Company

BAE SYSTEMS PLC
22 November 2005



                   NOTIFICATION OF MAJOR INTERESTS IN SHARES



1. Name of company

BAE SYSTEMS plc



2. Name of shareholder having a major interest


Franklin Resources, Inc. including Franklin Mutual Advisers, LLC and Templeton Worldwide, Inc.



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


Bank of New York Europe Ltd - 12,882

Bank of New York, London - 4,349,468

Cede, New York - 4,767,424

Citibank Nominees Ltd - 3,225,210

Clydesbank Bank PLC - 4,143,020

Euroclear Bank SA - 95,107

HSBC Bank - 2,778,445

JP Morgan Chase Bank - 111,716,114

Mellon Bank - 16,648,131

Merrill Lynch Intl Ltd - 3,748,885

Northern Trust Company - 5,987,776

Royal Trust Corp. of Canada - 10,554,978

State Street Nominees Ltd - 24,344,946




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 at 21 November 2005.



11. Date company informed


22 November 2005



12. Total holding following this notification


192,372,386 ordinary shares







13. Total percentage holding of issued class following this notification


5.9921%



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


22 November 2005




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