Holding(s) in Company

BP PLC
25 February 2004

LETTER TO:  BP PLC
            23rd February 2004

COMPANIES ACT 1985, (AS AMENDED) SECTIONS 198 TO 210A
DISCLOSURE OF INTEREST IN SHARES

In accordance with the above provisions we hereby give you notice that the Co-
operative Insurance Society Limited holds, as beneficial owner, 1,550,538 BP PLC
8% cum 1st Prf £1 shares at the close of business on 23rd February 2004 this
being equal to 21.44% of the relevant issued share capital of 7,232,838. The
decrease in our percentage holding is as a result of the following transaction:
 
Date                           Transaction type      Number of 8% cum prf shares

23/02/04                       Stock Loan Return                         100,889

Co-operative Insurance Society Limited holds the shares as beneficial owner. The
notification given in this letter arises by virtue of approved stock lending
activity undertaken by Co-operative Insurance Society Limited.

You note also that Co-operative Insurance Society Limited has, under the terms
of its stock lending agreement, the right to call for delivery to it of shares
of an identical type, nominal value, description and amount to the securities
lent. By virtue of section 208(5) of the Companies Act 1985, such right is
deemed to be a notifiable interest in such securities.

From:  Reporting & Systems Manager 
       Investment Accounts Department
       Co-operative Insurance

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