Purchase of Own Securities

BRITISH ASSETS TRUST PLC
22 September 1999


The Board of British Assets Trust PLC announces that on 22 September 1999, the
Company purchased for cancellation 150,000 warrants at a price of 48.50 pence
each.

Following this purchase there are now 16,036,355 warrants outstanding, 20.9
per cent of the original warrant issue.

The Company has now purchased for cancellation a total of 60,763,645 warrants,
representing 79.1 per cent of the original warrant issue.

Gordon J Humphries, Secretary, British Assets Trust plc

Enquiries  :               Gordon Humphries,   tel: [phone]