Holding in Company

British Assets Trust PLC
16 January 2001

                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     BRITISH ASSETS TRUST PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     EQUITABLE LIFE ASSURANCE SOCIETY

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.

     AS IN 2

5)   Number of shares/amount of stock acquired.



6)   ( N/A %) of issued Class

7)   Number of shares/amount of stock disposed

     6,378,373

8)   (12.05%) of issued Class

9)   Class of security

     GROWTH SHARES

10)  Date of transaction



11)  Date company informed

     16/01/01

12)  Total holding following this notification

     NIL          
              
13)  Total percentage holding of issued class following this notification

     NIL

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

     Date of Notification .....16 January 2001........................