RNS No 0749f
BRITISH STEEL PLC
26th March 1998


British Steel received notification on 26 March from Templeton Global Investors,
Inc. acting on behalf of Franklin Resources Inc. and its affiliates, which
includes Franklin Mutual Advisers, Inc. and Templeton Worldwide, Inc. and its
affiliates, that as at 24 March 1998 Franklin Resources, Inc. had interests in
311,326,050 ordinary shares of 50p, representing 16.00% of British Steel's
issued capital.  These interests are under management of Franklin Resources,
Inc. and its affiliates on behalf of clients.

END


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