Rule 8.3 - BAE SYSTEMS PLC

FORM 8.3

    DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR MORE
              (Rule 8.3 of the City Code on Takeovers and Mergers)


1.   KEY INFORMATION

Name of person dealing        BARCLAYS PLC
(Note 1)
Company dealt in              BAE SYSTEMS PLC
Class of relevant security    ORD GBP 0.025
to which the dealings being
disclosed relate (Note 2)
Date of dealing               24 MARCH 2006

2.   INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE

(a)  Interests and short positions (following dealing) in the class of relevant
security dealt in (Note 3)

                            Long                    Short

                         Number        (%)       Number        (%)

(1) Relevant        111,741,415    (3.47%)       98,017    (0.00%)
securities
(2) Derivatives          98,017    (0.00%)    2,865,264    (0.09%)
(other than
options)
(3) Options and               0    (0.00%)    4,472,272    (0.14%)
agreements to
purchase/sell
Total               111,839,432    (3.47%)    7,435,553    (0.23%)


(b)  Interests and short positions in relevant securities of the company, other
     than the class dealt in (Note 3)

Class of                    Long                     Short
relevant
security:

                  Number                    Number
                                  (%)                       (%)
(1) Relevant
securities

(2) Derivatives
(other than
options)

(3) Options and
agreements to
purchase/sell

Total


  (c)  Rights to subscribe (Note 3)

Class of relevant security:   Details



3.   DEALINGS (Note 4)

(a)  Purchases and sales

Purchase/sale Number of Securities Price per unit
                                   (GBP)
Purchase      1,200                4.1965
Purchase      1,300                4.2037
Purchase      690                  4.2077
Purchase      925                  4.2077
Purchase      1,026                4.1855
Purchase      500                  4.1777
Purchase      690                  4.1990
Sale          500                  4.1960
Sale          1,201                4.1911
Sale          1,481                4.1948
Purchase      49                   4.1850
Purchase      21,751               4.2007
Sale          22,757               4.1992
Sale          49                   4.1850
Sale          9,176                4.1992
Sale          43,463               4.1909
Sale          49                   4.1850
Purchase      15,148               4.1945
Purchase      15,605               4.1945
Purchase      11,443               4.1945
Purchase      7,118                4.1945
Purchase      6,471                4.1945
Purchase      7,503                4.1945
Purchase      7,978                4.1945
Purchase      51,464               4.1945
Purchase      9,356                4.1945
Purchase      2,580                4.2000
Sale          6,898                4.1982
Sale          9,826                4.1982



(b)  Derivatives transactions (other than options)

Product    Long/Short    Number of Securities  Price Per
name,      (Note 6)      (Note 7)              Unit (GBP)
e.g. CFD
CFD        Long          2,000                 4.2021
CFD        Long          43,463                4.1909
CFD        Long          9,176                 4.1992
CFD        Long          22,757                4.1992
CFD        Long          49                    4.1851
CFD        Short         12,559                4.2015
CFD        Short         21,751                4.2007
CFD        Long          65,653                4.1945



(c)  Options transactions in respect of existing securities

(i)  Writing, selling, purchasing or varying

Product name,   Writing,          Number of          Exercise  Type, e.g.      Expiry   Option money
e.g. call       selling,          securities to      price     American,       date     paid/received
option          purchasing,       which the option             European etc.            per unit (GBP)
                varying etc.      relates (GBP)


(ii) Exercising

Product name, e.g.  Number of           Exercise price per
call option         securities          unit (Note 5)




(d)  Other dealings (including new securities) (Note 4)


Nature of transaction Details           Price per unit
(Note 8)                                (if applicable)
                                        (Note 5)





4.   OTHER INFORMATION

Agreements, arrangements or understandings relating to options or derivatives


Full details of any agreement, arrangement or understanding between the
person disclosing and any other person relating to the voting rights of
any relevant securities under any option referred to on this form or
relating to the voting rights or future acquisition or disposal of any
relevant securities to which any derivative referred to on this form is
referenced.  If none, this should be stated.





Is a Supplemental Form 8 attached? (Note 9)                 NO


Date of disclosure                         27 MARCH 2006
Contact name                               BARCLAYS COMPLIANCE
Telephone number                           020 7116 2913
If a connected EFM, name of
offeree/offeror with which connected
If a connected EFM, state nature of
connection (Note 10)


Notes

The Notes on Form 8.3 can be viewed on the Takeover Panel's website at
www.thetakeoverpanel.org.uk