Special 'Millenium' Dividends in the Year 2000

British & American Inv Trust PLC
21 December 1999



The Board of British & American Investment Trust PLC announces the payment of
special 'Millenium' dividends in the year 2000.  These dividends will be in
addition to the Final and Interim dividends expected to be paid next year in
respect of the periods to 31st December 1999 and 30th June 2000, respectively.

A special dividend payment of 5 pence per £1 Ordinary share will be made on
31st January 2000 to shareholders on the register on 14th January 2000.

A further special dividend payment of 5 pence per £1 Ordinary share will be
made in December 2000, subject to the completion of the Reconstuction of First
Leisure PLC ('the Reconstruction'), as announced on 18th November 1999.  First
Leisure is the company's largest investment by value.  Completion of the
Reconstruction is due to take place on 31st January 2000 following a Court
petition to sanction the Reconstruction on 24th January 2000.  At an
Extraordinary General Meeting of shareholders of First Leisure on 16th
December 1999, the Reconstruction was approved by the requisite majorities. 
Should the Reconstruction not take place as proposed for whatever reason, this
second special dividend will not be paid.

The British & American Investment Trust group holds 3,457,287 shares in First
Leisure.  Under the terms of the reconstruction, the group will receive £3.5
million cash and 3,457,287 shares in a new listed company, Esporta PLC, which
will own the Health and Fitness businesses of First Leisure.

The Board of British & American Investment Trust wishes its shareholders a
very happy Christmas and a prosperous 2000.