Interest Payment

British Assets Trust PLC
2 July 2001


Press Release

INTEREST PAYMENT

We confirm that the gross rate on the equities index unsecured loan stock for
the quarter ended 30 June 2001 is 1.6160 pence per unit equivalent to £16.16
per 1000 units.

The record date is 29 June 2001 and the payment date is 10 July 2001.

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


Gordon J Humphries
Company Secretary, British Assets Trust PLC


Enquiries:     Gordon Humphries,   Tel: [phone]