Holding(s) in Company

British Assets Trust PLC
10 September 2003

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Name of company
British Assets Trust plc

2. Name of shareholder having a major interest
AXA S.A.

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 2

4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them
HSBC Global Custody Nominee (UK) Ltd A/C 845315 - 4,264

HSBC Global Custody Nominee (UK) Ltd A/C 867530 - 7,070,000

HSBC Global Custody Nominee (UK) Ltd A/C 867372 - 7,115,278

HSBC Global Custody Nominee (UK) Ltd A/C 867116 - 20,620,000

HSBC Global Custody Nominee (UK) Ltd A/C 867268 - 7,521,656

BNY(OCS) Nominees Ltd - 28,500

5. Number of shares / amount of stock acquired


6. Percentage of issued class


7. Number of shares / amount of stock disposed
 Not disclosed



8. Percentage of issued class
 Not disclosed



9. Class of security
Ordinary

10. Date of transaction
 Not disclosed

11. Date company informed
10/09/03

12. Total holding following this notification
42,359,698

13. Total percentage holding of issued class following this notification
11.99

14. Any additional information
 The holding represents a beneficial interest of 42,355,434 shares and a 
non-beneficial interest of 4,264 shares.



15. Name of contact and telephone number for queries
Andrew Nicholson 0131 465 1071

16. Name and signature of authorised company official responsible for making
this notification
Gordon Hay Smith, Company Secretary

Date of notification
10/09/03

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for loss of business or loss of profits) arising in contract, tort or otherwise
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