Top Ten Holdings

British Assets Trust PLC
1 April 2004


To:    RNS

From:  British Assets Trust

Date:  01 April 2004


Listing Rule 21

In accordance with paragraph 21.20 l (ii) of the Listing Rules British Assets
Trust announces its top ten holdings, including all holdings with a value
greater than 5% of its gross assets, as at 31 March 2004:

                                       
Top 10 Holdings                     

Company             % Total Assets  
BP                  4.9             
Vodafone            4.6             
HSBC                4.5             
Glaxosmithkline     3.6             
RBS Grp             2.7             
Shell               2.7             
Astrazeneca         2.0             
Barclays            1.8             
HBOS                1.6             
Diageo              1.5             



For further information please contact:

Gordon Hay Smith
ISIS Asset Management plc
0131 465 1000



                      This information is provided by RNS
            The company news service from the London Stock Exchange