Issue of Bonds

British Assets Trust PLC
10 September 2001


Further to the announcement made on 10 August 2001, the Company announces the
issue of the £60,000,000 6.25 per cent Secured Bonds due 2031 ('the Bonds')
and  that listing of the Bonds on the Official List and admission to trading
of the Bonds on the London Stock Exchange's market for listed securities will
be effective on 11 September 2001.


For further information please contact:

Gordon J Humphries
Company Secretary, British Assets Trust PLC           0131 465 1000

Frank Kennedy
UBS Warburg                                           0207 567 8000