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

JONATHAN CHARLES WOOLF                                                 

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 2 ABOVE                                                             

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

AS 2 ABOVE                                                             

5. Number of shares / amount of stock acquired

1,380,812                                                              

6. Percentage of issued class

5.52%                                                                  

7. Number of shares / amount of stock disposed

NIL                                                                    

8. Percentage of issued class

NIL                                                                    

9. Class of security

ORDINARY £1                                                            

10. Date of transaction

28/05/03                                                               

11. Date company informed

29/05/03                                                               

12. Total holding following this notification

1,380,812                                                              

13. Total percentage holding of issued class following this notification

5.52%                                                                  

14. Any additional information

TRANSFER BY EXECUTORS OF THE ESTATE OF SIR JOHN WOOLF TO BENEFICIARY   

15. Name of contact and telephone number for queries

K WILLIAMS 0207 201 3137                                               

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

KEITH WILLIAMS, COMPANY SECRETARY                                      

Date of notification

29 MAY 2003