Market Maker Holding

BAE SYSTEMS PLC
05 April 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:                              16.74%

As at close of business on:                      2 APRIL 2004






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