Holding in Company

British Empire Sec & Gen Tst PLC
16 January 2001



                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     BRITISH EMPIRE SECURITIES & GENERAL TRUST PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     EQUITABLE LIFE ASSURANCE SOCIETY

3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18

      AS IN 2

4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

      EQUITABLE LIFE ASSURANCE SOCIETY        -  14,604,565
      EQUITABLE FUND OF INVESTMENT TRUSTS     -   5,264,250
      (HSBC GLOBAL CUSTODY NOMINEE A/C 888569)
 
5)   Number of shares/amount of stock acquired.



6)   ( N/A %) of issued Class

7)   Number of shares/amount of stock disposed

       2,000,000

8)   (1.13%) of issued Class

9)   Class of security

      ORDINARY SHARES 10P

10)  Date of transaction



11)  Date company informed

      16/01/01

12)  Total holding following this notification

       19,868,815
               
              
13)  Total percentage holding of issued class following this notification

       11.27%

14)  Any additional information



15)  Name of contact and telephone number for queries

      D OSBORNE
      0131 465 1000

16)  Name and signature of authorised company official responsible for 
     making this notification   MICHAEL CAMPBELL

     Date of Notification ...16 JANUARY 2001....