EPT Disclosure

RNS Number:2045B
UBS AG (EPT)
07 April 2006

FORM 38.5



DEALINGS BY CONNECTED EXEMPT PRINCIPAL TRADERS

(Rule 38.5 of the City Code on Takeovers and Mergers)



1.         KEY INFORMATION
Name of exempt principal trader                    UBS AG London Branch

Company dealt in                                   BAE Systems Plc
Class of relevant security to which the dealings   7.75P NET CUM. CONV. 25P PRF
being disclosed relate (Note 1)

Date of dealing                                    06 APRIL 2006




2.         DEALINGS (Note 2)

(a)        Purchases and sales


Total number of securities  Highest price paid (Note Lowest price paid (Note 3)
purchased                   3)
          22,314                    2.08 GBP                   2.05 GBP


Total number of securities  Highest price received   Lowest price received (Note
sold                        (Note 3)                 3)
             -                         -                          -

(b)        Derivatives transactions (other than options)


Product name, e.g.  Long/short   Number of securities   Price per unit (Note 3)
CFD                 (Note 4)     (Note 5)






(c)        Options transactions in respect of existing securities

(i)         Writing, selling, purchasing or varying


Product    Writing,      Number of   Exercise  Type, e.g. Expiry    Option
name,e.g.  selling,      securities  price     American,  date      money paid/
call       purchasing,   to which              European             received
option     varying etc.  the option            etc.                 per unit
                         relates                                    (Note 3)
                         (Note 5)




(ii)        Exercising
Product name, e.g. Number of     Exercise price per
call option        securities    unit (Note 3)




3.         OTHER INFORMATION

Agreements, arrangements or understandings relating to options or derivatives



Full details of any agreement, arrangement or understanding between the person
disclosing and any other person relating to the voting rights of any relevant
securities under any option referred to on this form or relating to the voting
rights or future acquisition or disposal of any relevant securities to which any
derivative referred to on this form is referenced.  If none, this should be
stated.



.....................................................................


Date of disclosure                                     07 APRIL 2006

Contact name                                           JOSEPH EVANS
Telephone number                                       020 7567 8286
Name of offeree/offeror with which connected           BAE Systems Plc
Nature of connection (Note 6)                          CONNECTED ADVISER



Notes



The Notes on Form 38.5 can be viewed on the Takeover Panel's website at
www.thetakeoverpanel.org.uk


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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