Holding in Company

SCHEDULE 10

                             NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Name of company

BRITISH & AMERICAN INVESTMENT TRUST PLC

2. Name of shareholder having a major interest

JUPITER MONTHLY INCOME FUND

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

BENEFICIAL

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

 250,000

6. Percentage of issued class

 1.0

7. Number of shares / amount of stock disposed

8. Percentage of issued class

9. Class of security

ORDINARY SHARES

10. Date of transaction

31 OCTOBER 2006

11. Date company informed

15 NOVEMBER, 2006

12. Total holding following this notification

1,000,000

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

KEITH J WILLIAMS 020 7201 3100

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

KEITH J WILLIAMS

Date of notification

16 NOVEMBER 2006

British & American Investment Trust Plc