Holding(s) in Company

Babcock International Group PLC
7 January 2004

                           SCHEDULE 10
 
             NOTIFICATION OF MAJOR INTERESTS IN SHARES


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



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



5)   Number of shares/amount of stock acquired.



6)   Percentage of issued Class


7)   Number of shares/amount of stock disposed

NOT KNOWN

8)   Percentage of issued Class

NOT KNOWN

9)   Class of security

60P ORDINARY SHARES

10)  Date of transaction

6-1-2004

11)  Date company informed

7-1-2004

12)  Total holding following this notification

LESS THAN 3%
               
13)  Total percentage holding of issued class following this notification

LESS THAN 3%

14)  Any additional information

CEASED TO HAVE A NOTIFIABLE INTEREST

15)  Name of contact and telephone number for queries

0207 291 5016

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

     Date of Notification .....  7-1-2004  ...................


END



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