Holding in Company

British Assets Trust PLC
19 January 2001


                    DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

BRITISH ASSETS TRUST PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

FRIENDS IVORY & SIME

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



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         -    6,875,000
CITIFRIENDS NOMINEES LTD -    2,915,000

5)   Number of shares/amount of stock acquired.



6)   ( N/A %) of issued Class

7)   Number of shares/amount of stock disposed



8)   ( N/A %) of issued Class

9)   Class of security

GROWTH SHARES

10)  Date of transaction



11)  Date company informed

18/01/01

12)  Total holding following this notification

9,790,000
               
              
13)  Total percentage holding of issued class following this notification

20.60%

14)  Any additional information

THIS ANNOUNCEMENT DOES NOT RELATE TO A SHARE TRANSACTION 
IT IS A RESULT IN A REDUCTION OF THE ISSUED SHARE CAPITAL

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 19 JANUARY 2001..............................