Holding in Company

British Assets Trust PLC
22 September 2000


                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

BRITISH ASSETS TRUST PLC


2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

FRIENDS IVORY & SIME PLC


3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18

AS IN 2


4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

HSBC GS NOMINEES:-              9,575,000

CITIFRIENDS NOMINEES:-            490,000


5)   Number of shares/amount of stock acquired.

1,630,000


6)   ( 3.06 %) of issued Class


7)   Number of shares/amount of stock disposed


8)   (     %) of issued Class


9)   Class of security

GROWTH SHARES


10)  Date of transaction

19/9/00


11)  Date company informed

21/9/00


12)  Total holding following this notification

10,065,000
               
              
13)  Total percentage holding of issued class following this notification

18.91%


14)  Any additional information



15)  Name of contact and telephone number for queries

DEREK OSBORNE
0131-465-1000


16)  Name and signature of authorised company official responsible for 
     making this notification

RONA MITCHELL

     Date of Notification      22 SEPTEMBER 2000