Result of Equity Issue

British Assets Trust PLC
1 August 2001


The Company announces that on 30 July 2001 22,837 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 303,554,380 ordinary shares and
3,328,682 warrants in issue.



Gordon J Humphries
Company Secretary, British Assets Trust PLC


Enquiries:        Gordon Humphries,  Tel: [phone]