Issue of Equity

British Assets Trust PLC 21 September 2001 The Company announces that on 21 September 2001 110,914 ordinary shares of 25p each were allotted in connection with the exercise of warrants to subscribe for ordinary shares. Following the allotment, the Company has 303,968,291 ordinary shares and 2,914,771 warrants in issue. Gordon J Humphries Company Secretary, British Assets Trust PLC Enquiries: Gordon Humphries, Tel: 0131 465 1000
UK 100

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