Dividend Declaration

British Assets Trust PLC
28 August 2003

BRITISH ASSETS TRUST PLC

To:   RNS

Date: 28 August 2003

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 2003, of
1.304 pence per share on the ordinary shares of the Company. This dividend will
be paid on 10 October 2003 to shareholders on the register on 12 September 2003.

The last date for receipt of mandate instructions for those shareholders who
wish to join the Dividend Reinvestment Plan is 19 September 2003.

For further information please contact:


Gordon Hay Smith

Company Secretary, British Assets Trust plc: 0131 465 1000


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