Special Dividend/Board Change

British & American Inv Trust PLC
23 December 2000


 Special Dividend and Board Changes
 ==================================  

The Board of British & American Investment Trust PLC announces the payment of
a second special dividend of 5p per Ordinary share following the
reconstruction of First Leisure earlier in the year.

This second special dividend payment will be paid in two instalments of 2 1/2p
each, the first on 29th January to shareholders on the register on 19th
January 2001 and the second in the second half of next year.   The special
dividend is being split in this way in order to take into account the
availability of distributable reserves.   In the current calendar year some
£2.7 million of Ordinary and Preference dividends have been paid to
shareholders (not including the second special dividend), an increase of 100
percent over the previous year.

Claude E Fielding will be retiring from the Board as non-executive director on
31st December 2000.   Claude Fielding joined the Board in 1968 and the Board
thanks him for his valuable and long-standing contribution to the company.

The Board is pleased to announce the appointment of Ronald Paterson as a
non-executive director with effect from lst January 2001.   Ronald Paterson is
a partner of the law firm Eversheds and has particular responsibility for
their investment trust and other fund management business.