Holding in Company

British Empire Sec & Gen Tst PLC
4 June 2001

                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

BRITISH EMPIRE SECURITIES AND GENERAL TRUST PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

MILLENNIUM PARTNERS LP

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.

BC NOMINEES NO.2 LTD -    4,225,000
MILLENNIUM PARTNERS LP - 17,635,000

5)   Number of shares/amount of stock acquired.

4,225,000

6)   (2.40%) of issued Class

7)   Number of shares/amount of stock disposed



8)   (   %) of issued Class

9)   Class of security

ORDINARY

10)  Date of transaction



11)  Date company informed

1 JUNE 2001

12)  Total holding following this notification

21,860,000
               
              
13)  Total percentage holding of issued class following this notification

12.40%

14)  Any additional information



15)  Name of contact and telephone number for queries

KATRINA FYFFE
FRIENDS IVORY & SIME PLC
0131-465-1000

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

     Date of Notification ........4 JUNE 2001................