Holding(s) in Company

Associated British Engineering PLC
23 September 2002


                                        63 Church Street

                                        Harston

                                        Cambridge

                                        CB2 5NP


                                        Tel [phone]

                                        Fax [phone]

23 September 2002


BY FAX ONLY-0207-588 6057

Security No; 536313

To;

The Company Announcements Office

The Stock Exchange

From;

Mrs K M Good

Company Secretary

Associated British Engineering PLC

Dear Sirs

Notification of change in major interest in shares

Pursuant to section 198 of the Companies Acts 1985 please note that the number
of Associated British Engineering plc ordinary shares in which Sun Life Pensions
Management Ltd is interested in has reduced to 41,121 shares, equivalent to
3.13% of the issued ordinary capital (a reduction from 4.02%).

The shares are registered under RBSTB nominees designation Sunpen. This change
took place on 20 September 2002..


We have been advised of this information this morning.

Yours faithfully



K M Good (Mrs)

Company Secretary


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