RNS NO 8065J
BRITISH & AMERICAN INVESTMENT TRUST


Schedule 10 - Notification of Major Interests in Shares

1   Name of company:
British & American Inv Trst

2   Name of shareholder having a major interest:
Scottish Value Trust PLC
Scottish Value Management 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:


4   Name of registered holder(s) and, if more than one holder, the number of
shares held by each of them:
Scottish Value Trust PLC      2,137,500
Scottish Value Management Ltd     2,500
  Aggregate                   2,140,000

5   Number of shares/amount of stock acquired:


6   Percentage of issued class:


7   Number of shares/amount of stock disposed:
200,000

8   Percentage of issued class:
0.8%

9   Class of security:
Ordinary #1

10  Date of transaction:
27 June 1997

11  Date company informed:
1st July 1997

12  Total holding following this notification:
2,140,000

13  Total percentage holding of issued class following this notification:
8.56%

14  Contact name for queries:
J. C. Woolf

15 Contact telephone number:
0171 376 3791

16  Name of company official responsible for making notification:


17  Date of notification:
1st July 1997

END