Holding(s) in Company

BAE SYSTEMS PLC
03 November 2006

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES



1. Name of company


BAE SYSTEMS plc



2. Name of shareholder having a major interest


Barclays PLC



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


LEGAL ENTITY REPORT
Barclays Global Investors, N.A.                                                                44,469,001
Barclays Bank Trust Company Ltd                                                                   246,857
Barclays Global Investors Canada Ltd                                                              240,488
Barclays Private Bank and Trust Ltd                                                                 4,009
Barclays Global Investors Ltd                                                                  42,913,717
Barclays Private Bank Ltd                                                                       1,382,387
Barclays Global Investors Japan Trust & Banking                                                 3,711,854
Barclays Global Investors Japan Ltd                                                               396,952
Barclays Capital Inc                                                                              251,220
Barclays Life Assurances Co Ltd                                                                 6,175,779
Barclays Capital Securities Ltd                                                                15,216,467
Barclays Global Investors Australia Ltd                                                         2,027,767
Barclays Bank plc                                                                                 234,000
Barclays Global Fund Advisors                                                                  10,881,874
Barclays Private Bank and Trust Ltd                                                               269,544
                                                                                              128,421,916

REGISTERED HOLDERS REPORT
Bank of Ireland                                                                                    64,551
Bank of New York                                                                                  230,968
Barclays Capital Nominees Limited                                                              15,199,899
Barclays Trust Co as Exec/Adm                                                                       1,475
BNP Paribas                                                                                       271,909
Barclays Capital Securities Ltd                                                                   234,000
Barclays Capital Securities Ltd                                                                   251,220
Barclays Capital Securities Ltd                                                                    16,568
Barclays Global Investors Canada                                                                  240,488
Barclays Trust Co & Others                                                                         49,940
Barclays Trust Co DMC69                                                                            23,429
Barclays Trust Co E99                                                                               1,158
Barclays Trust Co R69                                                                             170,855
Chase Nominees Ltd                                                                              1,622,673
Chase Nominees Ltd                                                                             16,528,344
Chase Nominees Ltd                                                                              1,394,944
CIBC Mellon Global Securities                                                                     204,605
Clydesdale Nominees HGB0125                                                                         6,080
Clydesdale Nominees HGB0125                                                                        15,308
Clydesdale Nominees HGB0125                                                                           981
Clydesdale Nominees HGB0125                                                                         4,408
Clydesdale Nominees HGB0125                                                                         4,010
Clydesdale Nominees HGB0125                                                                         1,661
Clydesdale Nominees HGB0125                                                                         1,638
Clydesdale Nominees HGB0125                                                                         5,029
Clydesdale Nominees HGB0125                                                                         5,187
Clydesdale Nominees HGB0125                                                                         6,709
Clydesdale Nominees HGB0125                                                                         3,213
Clydesdale Nominees HGB0125                                                                         4,687
Clydesdale Nominees HGB0125                                                                         1,824
Clydesdale Nominees HGB0125                                                                         1,539
Clydesdale Nominees HGB0125                                                                        24,424
Clydesdale Nominees HGB0125                                                                         2,725
Clydesdale Nominees HGB0125                                                                         7,612
Clydesdale Nominees HGB0125                                                                         2,705
Clydesdale Nominees HGB0125                                                                        17,753
Clydesdale Nominees HGB0125                                                                         1,764
Clydesdale Nominees HGB0125                                                                         2,902
Clydesdale Nominees HGB0125                                                                         1,748
Clydesdale Nominees HGB0125                                                                         2,281
Clydesdale Nominees HGB0125                                                                         3,562
Clydesdale Nominees HGB0125                                                                         2,274
Clydesdale Nominees HGB0125                                                                         1,771
Clydesdale Nominees HGB0125                                                                         2,420
Clydesdale Nominees HGB0125                                                                         1,465
Clydesdale Nominees HGB0125                                                                        10,327
Clydesdale Nominees HGB0125                                                                         2,216
Clydesdale Nominees HGB0125                                                                         2,702
Clydesdale Nominees HGB0125                                                                         2,556
Clydesdale Nominees HGB0125                                                                         2,011
Clydesdale Nominees HGB0125                                                                         2,283
Clydesdale Nominees HGB0125                                                                         4,524
Clydesdale Nominees HGB0125                                                                         2,756
Clydesdale Nominees HGB0125                                                                         6,205
Clydesdale Nominees HGB0125                                                                         3,045
Clydesdale Nominees HGB0125                                                                         2,113
Clydesdale Nominees HGB0125                                                                         1,640
Clydesdale Nominees HGB0125                                                                         1,782
Clydesdale Nominees HGB0125                                                                        23,501
Clydesdale Nominees HGB0125                                                                         3,659
Clydesdale Nominees HGB0125                                                                        20,404
Clydesdale Nominees HGB0125                                                                         1,262
Clydesdale Nominees HGB0125                                                                         2,518
Clydesdale Nominees HGB0125                                                                         1,274
Clydesdale Nominees HGB0125                                                                         1,683
Clydesdale Nominees HGB0125                                                                         1,888
Clydesdale Nominees HGB0125                                                                         2,525
Clydesdale Nominees HGB0125                                                                         2,000
Clydesdale Nominees HGB0125                                                                         1,605
Clydesdale Nominees HGB0125                                                                         2,070
Clydesdale Nominees HGB0225                                                                         3,250
Clydesdale Nominees HGB0225                                                                         4,229
Clydesdale Nominees HGB0225                                                                         9,547
Clydesdale Nominees HGB0225                                                                         2,185
Clydesdale Nominees HGB0225                                                                           529
Clydesdale Nominees HGB0 325                                                                        1,875
Clydesdale Nominees HGB0 325                                                                        1,700
Investors Bank and Trust Co                                                                    38,028,388
Investors Bank and Trust Co                                                                    10,881,874
JP Morgan (BGI Custody)                                                                           793,579
JP Morgan (BGI Custody)                                                                           192,302
JP Morgan (BGI Custody)                                                                         2,504,128
JP Morgan (BGI Custody)                                                                           423,288
JP Morgan (BGI Custody)                                                                           300,811
JP Morgan (BGI Custody)                                                                           511,823
JP Morgan (BGI Custody)                                                                        24,447,289
JP Morgan (BGI Custody)                                                                            54,904
JP Morgan (BGI Custody)                                                                           250,860
JP Morgan Chase Bank                                                                            2,027,767
JP Morgan Chase Bank                                                                              106,911
JP Morgan Chase Bank                                                                            3,711,854
JP Morgan Chase Bank                                                                              270,966
Mellon Trust of New England                                                                       274,885
Master Trust Bank                                                                                  42,349
Mellon Trust - US Custodian                                                                       589,857
Mitsui Asset                                                                                       56,080
Northern Trust Bank - BGI Sepa                                                                  1,229,892
Reflex Nominees Limited                                                                             4,009
State Street Bank & Trust - WI                                                                    704,051
State Street Boston                                                                             2,022,051
State Street Trust of Canada                                                                      473,404
The Northern Trust Company - U                                                                    332,080
Trust & Custody Services Bank                                                                      27,557
Zeban Nominees Limited                                                                          1,382,387



                                                                                              128,421,916




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 27 October 2006



11. Date company informed


2 November 2006



12. Total holding following this notification


128,421,916 shares



13. Total percentage holding of issued class following this notification


3.98%



14. Any additional information


Notification received under s198 CA85



15.  Name and contact details of authorised company official responsible for
making this notification


Ann-Louise Holding, Assistant Company Secretary  (tel: [phone])



16.  Date of notification


3 November 2006




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