Holding in Company

Babcock International Group PLC
15 October 2001


                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     BABCOCK INTERNATIONAL GROUP PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     ZURICH FINANCIAL SERVICES

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

     NOTIFICATION OF SHAREHOLDER NAMED IN 2 ABOVE

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

     LITTLEDOWN NOMINEES LIMITED A/C 05576 - 5,527,950 SHARES
     LITTLEDOWN NOMINEES LIMITED A/C 05577 -   342,139 SHARES

5)   Number of shares/amount of stock acquired.

     150,089

6)   (0.10%) of issued Class

7)   Number of shares/amount of stock disposed



8)   ( N/A %) of issued Class

9)   Class of security

     60p ORDINARY SHARES

10)  Date of transaction

     12 OCTOBER 2001

11)  Date company informed

     12 OCTOBER 2001

12)  Total holding following this notification

     5,870,089
               
13)  Total percentage holding of issued class following this notification

     4.0%

14)  Any additional information



15)  Name of contact and telephone number for queries

     MR R S MARTIN, GROUP ASSISTANT SECRETARY - 01494 787429

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

     Date of Notification ..15 OCTOBER 2001