Dividend Declaration

British Assets Trust PLC
15 August 2002


BRITISH ASSETS TRUST PLC

DATE: 15 August 2002



Third Quarterly Interim Dividend

The Board of British Assets Trust announces that it is declaring a third
quarterly interim 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 11 October 2002 to shareholders on the register on 13 September 2002.

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


For further information please contact:

Gordon Humphries

Company Secretary, British Assets Trust plc: 0131 465 1000



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