British Steel PLC - Holding in Company

RNS No 0826c
BRITISH STEEL PLC
24th November 1998


SECTION 198 COMPANIES ACT 1985 - DISCLOSURE OF INTEREST IN SHARES

British Steel plc received notification on 24 November 1998 from Brandes 
Investment Partners LP that in accordance with Section 198 of the Companies 
Act 1985 (the "Act"):

(i) at the close of business on 20 November 1998, Brandes Investment 
Partners, LP ("Brandes") was interested for the purposes of the Act in 
76,023,115 ordinary shares and in 8,592,669 American Depository Receipts 
(each one of which is the equivalent of 10 ordinary shares) which, 
ultimately, represents approximately 8% of the outstanding ordinary shares 
of British Steel each comprised in the relevant share capital (the "Relevant 
Shares"), as defined in Section 198(2) of the Act;

(ii) in September of 1998, Brandes' interests for the purposes of the Act in 
ordinary shares and in American Depository Receipts, each comprised in the 
relevant share capital, as defined in Section 198(2) of the Act, of British 
Steel plc exceeded 3% of the outstanding shares of British Steel plc;

(iii) none of the shares referred to in sub-paragraphs (i) or (ii) are 
shares in which Brandes is interested by virtue of Section 208(5) of the 
Act.

Brandes is a registered US investment adviser and may not be "authorised" 
(as that term is used in the Act) under the UK Financial Services Act of 
1986 and may not, therefore, be exempt from giving this notification as 
permitted under Section 199(2A) of the Act.

END

HOLQZFFLVFKEFKV