Holding in Company

British Empire Sec & Gen Tst PLC
19 July 2001


                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     BRITISH EMPIRE SECURITIES & GENERAL TRUST PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     MILLENNIUM PARTNERS LP

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

     AS IN 2

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

     MILLENNIUM PARTNERS LP         17,635,000
     BC NOMINEES NO. 2 LTD           8,475,000

5)   Number of shares/amount of stock acquired.

     -

6)   ( N/A %) of issued Class

7)   Number of shares/amount of stock disposed

     1,050,000

8)   (0.60%) of issued Class

9)   Class of security

     ORDINARY 10P

10)  Date of transaction

     17 JULY 2001

11)  Date company informed

     18 JULY 2001

12)  Total holding following this notification

     26,110,000
               
              
13)  Total percentage holding of issued class following this notification

     14.81%

14)  Any additional information



15)  Name of contact and telephone number for queries

     KATRINA FYFFE
     FRIENDS IVORY & SIME PLC
     0131 465 1000

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

     Date of Notification ....19 JULY 2001.....