Holding in Company

British Empire Sec & Gen Tst PLC
5 September 2000


                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     BRITISH EMPIRE SECURITIES & GENERAL TRUST PLC


2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     LEGAL AND GENERAL


3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18



4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

     SEE BELOW


5)   Number of shares/amount of stock acquired.



6)   (N/A %) of issued Class

7)   Number of shares/amount of stock disposed



8)   (N/A %) of issued Class

9)   Class of security

     ORDINARY SHARES


10)  Date of transaction

     31/8/00


11)  Date company informed

     4/9/00


12)  Total holding following this notification

     5,276,591

               
13)  Total percentage holding of issued class following this notification

     2.98%   HOLDING NOW BELOW 3% FOLLOWING SALE OF 125,000 SHARES


14)  Any additional information



15)  Name of contact and telephone number for queries

     JACQUELINE BEATON
     FRIENDS IVORY & SIME PLC     0131 465 1076

16)  Name and signature of authorised company official responsible for 
     making this notification

     Date of Notification ......5/9/2000.............


Letter to British Empire Securities & General Trust Plc
Friends Ivory & Sime Plc
Dated 1 September 2000

Consequent upon a sale in the market of 125,000 shares on the 31 August 2000, we
now hold the following number of shares which are not subject to a concert
party and will be registered as follows:-

Material Interest

HSBC Global Custody Nominee (UK) Ltd A/c 747381               183,110
HSBC Global Custody Nominee (UK) Ltd A/c 775245               828,895
HSBC Global Custody Nominee (UK) Ltd A/c 360509               125,000
HSBC Global Custody Nominee (UK) Ltd A/c 866203               148,000
HSBC Global Custody Nominee (UK) Ltd A/c 357206             3,991,586
                                                            ---------   -----
                                                            5,276,591   2.97%
                                                            =========   =====

Please note that this percentage is based on our understanding that your issued
share capital is 177,300,000 (actually 177,285,089)

Letter from Legal & General Investment Management Ltd.