Interest Payment

British Assets Trust PLC
3 January 2001


Interest payment.

We confirm that the gross rate on the equities index unsecured loan stock for
the quarter ended 31 December 2000 is 1.2310 pence per unit equivalent to
£12.31 per 1000 units.

The record date is 29 December 2000 and the payment date is 10 January 2001.

Issued by Friends Ivory & Sime plc ( regulated by IMRO) on behalf of British
Assets Trust plc