Dividend Declaration

British Assets Trust PLC
26 January 2001


First Quarterly Dividend

The Board of British Assets Trust announces that it is declaring a first
quarterly dividend, in respect of the year to 30 September 2001, of 1.304
pence (2000 - 1.26125 pence) on the ordinary shares of the Company.  This
dividend will be paid on 6 April 2001 to shareholders on the register on 2
March 2001.

For further information please contact:


Gordon Humphries
Friends Ivory & Sime plc:  0131 465 1000