Market Maker Holding

BAE SYSTEMS PLC
18 May 2004

London Stock Exchange Regulatory Announcement

Publication of Market Maker Holding under Rule 2302

Name of company:                BAE SYSTEMS PLC

Relevant security:              7.75P (NET) CUM CNV RED PRF 25P

Member firm:                    UBS INVESTMENT BANK

Percentage holding:             20.32%

As at close of business on:     14 MAY 2004


                      This information is provided by RNS
            The company news service from the London Stock Exchange   D

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