Holding(s) in Company

British & American Investment Trust PLC

14 November 2008

TR-1: Notifications of Major Interests in Shares                               

1. Identity of the issuer or the underlying     British & American Investment  
issuer of existing shares to which voting       Trust PLC                      
rights are attached:                                                           
                                                                               
2. Reason for notification (yes/no)                                            
                                                                               
An acquisition or disposal of voting rights                          Yes       
                                                                               
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                               
                                                                               
Other (please specify):______________                                          
                                                                               
3. Full name of person(s) subject to    LADY LEVER OF MANCHESTER               
notification obligation:                                                       
                                                                               
4. Full name of shareholder(s) (if                                             
different from 3):                                                             
                                                                               
5. Date of transaction (and date on     3 November 2008                        
which the threshold is crossed or                                              
reached if different):                                                         
                                                                               
6. Date on which issuer notified:       14 November 2008                       
                                                                               
7. Threshold(s) that is/are crossed or  4%                                     
reached:                                                                       

8: Notified Details                                                             
                                                                                
A: Voting rights attached to shares                                             
                                                                                
Class/type   Situation         Resulting situation after the triggering         
of shares    previous to the   transaction                                      
             triggering                                                         
If possible  transaction                                                        
use ISIN                                                                        
code                                                                            
                                                                                
Ordinary                                                                        
Shares GBP 1                                                                    
                                                                                
GB0000653112                                                                    

Number   Number of Number of Number of voting   Percentage of                 
of       voting    shares    rights             voting rights                 
shares   rights                                                               
                   1,146,562                                                  
N/A      N/A                                                                  
                                                                              
                             Direct    Indirect Direct   Indirect             
                                                                              
                             1,146,562 N/A      4.6%     N/A                  
                                                                              

B: Financial Instruments                                                       
                                                                               
Resulting situation after the triggering transaction                           
                                                                               
Type of        Expiration     Exercise/       No. of voting      Percentage of 
financial      date           conversion      rights that may be voting rights 
instrument                    period/date     acquired (if the                 
                                              instrument                       
                                              exercised/                       
                                              converted)                       
                                                                               
N/A            N/A            N/A             N/A                N/A           

Total (A+B)                                                                    
                                                                               
Number of voting rights                 Percentage of voting rights            
                                                                               
1,146,562                               4.59%                                  

9. Chain of controlled undertakings through which the voting rights and /or the
financial instruments are effectively held, if applicable:                     
                                                                               
N/A                                                                            

Proxy Voting:                                                                  
                                                                               
10. Name of proxy holder:               N/A                                    
                                                                               
11. Number of voting rights proxy       N/A                                    
holder will cease to hold:                                                     
                                                                               
12. Date on which proxy holder will     N/A                                    
cease to hold voting rights:                                                   

13. Additional information:             N/A                                    
                                                                               
14 Contact name:                        Keith Williams                         
                                                                               
15. Contact telephone name:             020 7301 3100