Dividend Declaration

British Assets Trust PLC
29 January 2002



BRITISH ASSETS TRUST PLC


DATE: 29 January 2002


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 2002, of 1.304 pence
per share on the ordinary shares of the Company. This dividend will be paid on
12 April 2002 to shareholders on the register on 15 March 2002.


The last date for receipt of mandate instructions for those shareholders who
wish to join the Dividend Reinvestment Plan is 20 March 2002.


For further information please contact:

Gordon Humphries

Company Secretary: 0131 465 1000




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