Holding(s) in Company

BAE SYSTEMS PLC
27 March 2006



                   NOTIFICATION OF MAJOR INTERESTS IN SHARES



1. Name of company
BAE SYSTEMS plc



2. Name of shareholder having a major interest


Franklin Resources, Inc. and its affiliates, including Franklin Mutual Advisers, 
LLC and Templeton Worldwide, Inc.



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


Bank of New York Europe Ltd - 12,882
Bank of New York, London - 3,593,480
JP Morgan Chase Bank - 90,292,178
Cede - 5,100,726
Chase Manhatten Bank London - 18,870
Citibank NA London - 2,297,170
Clydesbank Bank PLC - 3,589,320
Euroclear Bruxelles - 95,107
HSBC Bank Plc London - 2,241,475
Mellon Bank NA London - 13,757,287
Merrill Lynch Intl Ltd London - 3,748,885
Northern Trust Company - 5,746,427
Northern Trust Company - 30,169
Royal Trust Corp. of Canada - 10,242,088
State Street Nominees Ltd - 18,480,813



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 at 24 March 2006.



11. Date company informed


24 March 2006



12. Total holding following this notification


159,246,877 ordinary shares



13. Total percentage holding of issued class following this notification


4.9475%



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


27 March 2006







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