Holding(s) in Company

BAE SYSTEMS PLC
29 January 2003

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Name of company
BAE SYSTEMS plc

2. Name of shareholder having a major interest

Barclays PLC via the following legal entities: Barclays Global Investors Australia Ltd; Barclays Bank
Trust Company Ltd; Barclays Nikko Global Investors Ltd; Barclays Global Investors Ltd; Barclays Private
Bank Ltd; Barclays Global Investors Japan Trust; Barclays Private Bank and Trust Ltd; Barclays Capital
Securities Ltd; Barclays Global Investors Japan; Barclays Life Assurance Co Ltd; Barclays Global
Investors, N.A; Barclays Global Fund Advisors.

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
Shareholder named in 2 above

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

Chase Manhattan - 456,216

Chase Manhattan - 10,685,444

Bank of Ireland - 839,596

Barclays Capital Nominees Ltd - 917,066

Barclays Global Investors Japan - 20,769

Barclays Trust Co & Others - 56,084

Barclays Trust Co - 8,778

Barclays Trust Co - 23,429

Barclays Trust Co - 1,883

Barclays Trust Co - 221,291

Chase Manhattan - 48,799

Chase Manhattan - 110,376

Chase Manhattan - 178,685

Chase Manhattan - 971,009

Chase Manhattan - 449,325

Chase Manhattan - 2,724,505

Chase Manhattan - 157,864

Chase Manhattan - 313,309

Chase Manhattan - 34,100,576

Boston Safe Deposit and Trust - 745,725

Chase Manhattan - 13,260,250

Chase Manhattan - 4,780,840

Chase Manhattan - 1,410,886

Chase Manhattan - 5,204,605

Chase Manhattan - 1,005,578

Chase Manhattan - 1,456,016

Chase Manhattan Bank - 21,948

Chase Manhattan Bank - 43,696

Chase Manhattan Bank - 43,529

Chase Manhattan - 1,515,483

Clydesdale Nominees - 987

Clydesdale Nominees - 1

Clydesdale Nominees - 535

Clydesdale Nominees - 1,511

Clydesdale Nominees - 900

Cydesdale Nominees - 839

Cydesdale Nominees - 815

Cydesdale Nominees - 1,532

Cydesdale Nominees - 1,136

Cydesdale Nominees - 751

Cydesdale Nominees - 879

Cydesdale Nominees - 1,651

Cydesdale Nominees - 729

Cydesdale Nominees - 8,587

Cydesdale Nominees - 1,140

Cydesdale Nominees - 2,143

Cydesdale Nominees - 1,030

Cydesdale Nominees - 709

Cydesdale Nominees - 1,673

Cydesdale Nominees - 2,242

Investors Bank and Trust Co - 239,757

Investors Bank and Trust Co - 51,963

Investors Bank and Trust Co - 339,375

Investors Bank and Trust Co - 1,225,082

Investors Bank and Trust Co - 290,353

Investors Bank and Trust Co - 81,566

JP Morgan Chase Bank - 224,999

JP Morgan Chase Bank - 703,230

JP Morgan Chase Bank - 41,560

JP Morgan Chase Bank - 316,573

JP Morgan Chase Bank - 59,907

JP Morgan Chase Bank - 435,421

JP Morgan Chase Bank - 27,771

JP Morgan Chase Bank - 69,090

JP Morgan Chase Bank - 338,599

JP Morgan Chase Bank - 341,363

JP Morgan Chase Bank - 56,475

JP Morgan Chase Bank - 15,634

JP Morgan Chase Bank - 9,271

JP Morgan Chase Bank - 36,525

JP Morgan Chase Bank - 27,576

JP Morgan Chase Bank - 955,510

JP Morgan Chase Bank - 29,884

Mitsubishi Trust International - 15,973

Mitsubishi Trust International - 11,022

Mitsubishi Trust International - 73,441

Northern Trust Bank - 335,047

Northern Trust Bank - 196,074

State Street - 5,813

State Street - 66,833

State Street - 182,365

State Street - 1,112

State Street Bank and Trust - 3,092,793

Sumitomo TB - 41,557

Swan Nominees Ltd - 51,827

Swan Nominees Ltd - 3,385

Zeban Nominees Ltd - 931,468


5. Number of shares / amount of stock acquired
N/A

6. Percentage of issued class
N/A

7. Number of shares / amount of stock disposed
N/A

8. Percentage of issued class
N/A

9. Class of security
Ordinary shares of 2.5 pence each

10. Date of transaction
Not disclosed. Figures given as at 23 January 2003

11. Date company informed
28 January 2003

12. Total holding following this notification
92,729,544 ordinary shares

13. Total percentage holding of issued class following this notification
3.03%

14. Any additional information
Notification received under s198 CA85

15. Name of contact and telephone number for queries
Ann-Louise Holding [phone]

16. Name and signature of authorised company official responsible for making
this notification
Ann-Louise Holding, Assistant Company Secretary

Date of notification
29 January 2003

The FSA does not give any express or implied warranty as to the accuracy of this
document or material and does not accept any liability for error or omission.
The FSA is not liable for any damages (including, without limitation, damages
for loss of business or loss of profits) arising in contract, tort or otherwise
from the use of or inability to use this document, or any material contained in
it, or from any action or decision taken as a result of using this document or
any such material.


                      This information is provided by RNS
            The company news service from the London Stock Exchange