Holding(s) in Company

BAE SYSTEMS PLC
16 March 2007


TR-1:               notification of major interests in shares


1. Identity of the issuer or the underlying issuer of existing               BAE SYS EQUITIES
shares to which voting rights are attached:
2. Reason for the notification
An acquisition or disposal of voting rights                                                        x
An acquisition or disposal of financial instruments which may result in the acquisition of
shares already issued to which voting rights are attached
An event changing the breakdown of voting rights
3. Full name of person(s) subject to the notification           AXA S.A., 25 Avenue Matignon, 75008 Paris
obligation:                                                            and its group of companies
4. Full name of shareholder(s) (if different from 3.)
5. Date of the transaction and date on which the threshold is                   02/03/2007
crossed or reached:
6. Date on which issuer notified:                                      05/03/07 (Received 16/03/07)
7. Threshold(s) that is/are crossed or reached:
8. Notified details:


A: Voting rights attached to shares
Class/type of    Situation previous to Resulting situation after the triggering transaction
shares           the Triggering
                 transaction
                 Number of  Number of  Number of   Number of voting rights     % of voting rights
                 Shares     Voting     shares
                            Rights     Direct      Direct         Indirect     Direct      Indirect
                                       23,663,709  23,663,709     246,741,909  0.74          7.70



0262494


B: Financial Instruments
Resulting situation after the triggering transaction
Type of financial    Expiration date Exercise/ Conversion      Number of voting rights    % of voting
instrument                           Period/ Date              that may be acquired if    rights
                                                               the instrument is
                                                               exercised/ converted.



Total (A+B)
Number of voting rights                            % of voting rights
                   270,405,618                                            8.43%


Proxy Voting
10. Name of proxy holder:
11.  Number of Voting Rights Proxy Holder will cease
to hold:
12.  Date on which proxy holder will cease to hold
voting rights:
13.  Additional information:
14.  Contact name:                                     Terry Marsh (AXA)
15.  Contact telephone number:                         020 7003 2637


9. Chain
Name of Company/Fund                      Number of Shares             % of issued share capital


AXA Ireland Pension Fund                  32,000                       0.00100



Indirect


AXA Rosenberg                             2,557,000                    0.07976



Direct


Sun Life Unit Assurance Ltd A/c X         1,240,000                    0.03868



Direct


Sun Life Unit Assurance Ltd A/c X         110,000                      0.00343



Direct


AXA UK Investment Co ICVC                 121,000                      0.00377

Global Distribution Fund

Indirect


AXA UK Investment Co ICVC                 360,000                      0.01123

Global Growth Fund

Indirect


AXA UK Investment Co IVCV                 600,000                      0.01872

UK Opportunities Fund

Indirect


Sun Life Pensions Management Ltd A/c      770,000                      0.02402

Direct


AXA Rosenberg                             1,882,000                    0.05870

Direct


AXA Financial, Inc                        160,912,542                  5.01930

Indirect




AXA Colonia Konzern                       179,413                      0.00560

Indirect


AXA France                                1,180,540                    0.03682

Indirect


AXA Australia                             8,000                        0.00025

Indirect


AXA Rosenberg                             43,628,104                   1.36088

Indirect


Sun Life International (IOM) Ltd          3,215                        0.00010


AXA Financial, Inc                        39,720,310                   1.23899

Indirect


Sun Life Pensions Management Ltd          415,667                      0.01297

Direct


Sun Life Pensions Management Ltd          40,871                       0.00127

Direct


Sun Life Unit Assurance Ltd LTAV UK       345,000                      0.01076
Equity

Direct


Sun Life Assurance Ltd ABL High Alpha     648,322                      0.02022

Direct


Sun Life Assurance Ltd FTSE All Share     603,157                      0.01881
Tracker

Direct


Sun Life Pensions Management LTAV UK      2,148,135                    0.06701
Equity

Direct


Sun Life Pensions Management ABL High     3,111,071                    0.09704
Alpha

Direct


Sun Life Pensions Management FTSE All     2,892,472                    0.09022
Share Tracker

Direct


AXA Winterthur                            6,896,799                    0.21513

Direct


                            Total Direct:  23,663,709                  0.73814

                          Total Indirect: 246,741,909                  7.69656
                                   TOTAL: 270,405,618                  8.43469




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