Yen 4.25bn Loan to Invest in Japanese Growth Stock

British Assets Trust PLC
24 February 2000


British Assets Trust borrows Yen 4.25bn to invest directly in Japanese growth
stocks

British Assets Trust invested Yen 4.25bn or £24mn (4% of its total assets) on
22 February 2000 in a portfolio of Japanese equities, focused on growth stocks
with a bias towards technology.  The currency exposure has been hedged through
the draw down of a Yen 4.25bn three year revolving loan facility at an
interest rate of 1.26%.  The Company has closed out its position in Nikkei 225
futures (equivalent to 4% of its total assets) at an index level of 19544 that
it took out in August 1999 at an index level of 17367.


Enquiries:

John Stubbs, Manager                        0131 456 1000
Gordon J Humphries, Company Secretary       0131 465 1000