Holding(s) in Company

BAE SYSTEMS PLC
14 November 2003

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Name of company
BAE SYSTEMS plc

2. Name of shareholder having a major interest

Barclays PLC via the following legal entities: Barclays Global Investors Japan
Ltd; Barclays Private Bank and Trust Ltd; Barclays Global Investors Ltd;
Barclays Capital Securities Ltd; Barclays Private Bank and Trust Ltd; Barclays
Global Fund Advisors; Barclays Global Investors Australia Ltd; Barclays Global
Investors Japan Trust & Banking; Barclays Private Bank Ltd; Barclays Life
Asssurance Co Ltd; Barclays Global Investors, N.A.; Barclays Gobal Investors
Japan Investment Trust; Barclays Bank Trust Company Ltd.

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
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
Chase Manhattan - 411,253

Chase Manhattan - 29,647,575

Bank of Ireland - 846,055

Barclays Capital Nominees Ltd - 3,763,498

Barclays Trust Co & Others - 53,046

Barclays Trust Co - 1,354

Barclays Trust Co - 23,429

Barclays Trust Co - 6,418

Barclays Trust Co - 194,389

Chase Manhattan - 48,799

Chase Manhattan - 415,700

Chase Manhattan - 742,348

Chase Manhattan - 776,671

Chase Manhattan - 1,374,332

Chase Manhattan - 1,939,911

Chase Nominees - 207,062

Chase Manhattan - 358,230

Chase Manhattan - 28,472,189

Boston Safe Deposit and Trust - 603,601

Chase Manhattan Bank - 14,155,763

Chase Manhattan Bank - 4,793,533

Chase Manhattan Bank - 1,310,634

Chase Manhattan Bank - 9,137,832

Chase Manhattan Bank - 2,307,636

Chase Manhattan Bank - 1,992,046

Chase Manhattan Bank - 43,696

Chase Manhattan - 1,507,002

Citibank, N.A. (United States) - 328,740

Clydesdale Nominees - 987

Clydesdale Nominees - 1,651

Clydesdale Nominees - 729

Clydesdale Nominees - 2,143

Investors Bank and Trust Co - 276,375

Investors Bank and Trust Co - 66,245

Investors Bank and Trust Co - 26,085

Investors Bank and Trust Co - 61,855

Investors Bank and Trust Co - 390,096

Investors Bank and Trust Co - 1,674,168

Investors Bank and Trust Co - 286,607

Investors Bank and Trust Co - 168,578

Investors Bank and Trust Co - 1,386,021

Investors Bank and Trust Co - 47,002

Investors Bank and Trust Co - 85,310

JP Morgan Chase Bank - 710,109

JP Morgan Chase Bank - 555,547

JP Morgan Chase Bank - 89,896

JP Morgan Chase Bank - 39,122

JP Morgan Chase Bank - 350,109

JP Morgan Chase Bank - 409,788

JP Morgan Chase Bank - 285,492

JP Morgan Chase Bank - 439,516

JP Morgan Chase Bank - 69,834

JP Morgan Chase Bank - 366,553

JP Morgan Chase Bank - 330,410

JP Morgan Chase Bank - 55,590

JP Morgan Chase Bank - 127,715

JP Morgan Chase Bank - 64,073

JP Morgan Chase Bank - 31,855

JP Morgan Chase Bank - 33,436

JP Morgan Chase Bank - 1,366,623

JP Morgan Chase Bank - 38,835

JP Morgan Chase Bank - 28,381

JP Morgan Chase Bank - 210,654

JP Morgan Chase Bank - 50,549

Master Trust Bank - 151,271

Mellon - 518,085

Mitsubishi Trust International - 15,973

Mitsubishi Trust International - 26,975

Mitsubishi Trust International - 44,669

Mitsubishi Trust International - 93,284

Northern Trust Bank - 920,940

Northern Trust Bank - 405,623

State Street - 68,148

State Street - 59,870

State Street - 225,650

State Street Bank & Trust - 2,932,698

Sumitomo TB - 39,383

Sumitomo TB - 22,996

Sumitomo TB - 30,303

Sumitomon TB - 52,596

Swan Nominees Ltd - 37,153

Swan Nominees Ltd - 6,823

Zeban Nominees Ltd - 70,607


5. Number of shares / amount of stock acquired
N/A

6. Percentage of issued class
N/A

7. Number of shares / amount of stock disposed
N/A

8. Percentage of issued class
N/A

9. Class of security
Ordinary shares of 2.5 pence each

10. Date of transaction
Not disclosed. Figures given as at 6 November 2003

11. Date company informed
12 November 2003

12. Total holding following this notification
121,313,728 ordinary shares

13. Total percentage holding of issued class following this notification
3.96%

14. Any additional information
Notification received under s198 CA85

15. Name of contact and telephone number for queries
Ann-Louise Holding [phone]

16. Name and signature of authorised company official responsible for making
this notification
Ann-Louise Holding, Assistant Company Secretary

Date of notification
14 November 2003

The FSA does not give any express or implied warranty as to the accuracy of this
document or material and does not accept any liability for error or omission.
The FSA is not liable for any damages (including, without limitation, damages
for loss of business or loss of profits) arising in contract, tort or otherwise
from the use of or inability to use this document, or any material contained in
it, or from any action or decision taken as a result of using this document or
any such material.


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