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B.A.T. ANNOUNCES QUARTERLY RESULTS

 LONDON, Nov. 3 /PRNewswire/ -- B.A.T. Industries (AMEX: BTI) today reported its quarterly results to September 30, 1993.
 B.A.T. INDUSTRIES
 SUMMARY
 (In millions of U.K. pounds sterling, except per share data)
 NINE MONTHS RESULTS 1993 1992 Change
 percent
 Continuing operations revenue
 (inc. exchanges managed by Farmers) 18,270 15,993 +14
 Continuing operations trading profit 1,623 1,282 +27
 Pre-tax profit 1,358 1,091 +24
 Earnings per share 29.3p 18.8p(A) +56
 (A) Adjusted for the 1:1 bonus issue in May 1993.
 Record Group pre-tax profit of 1,358 million pounds sterling for the nine months, up 24 percent, with an excellent increase from financial services, and tobacco benefiting from the 135 million pounds profit on the exchange of brands in the second quarter.
 Financial services total trading profit from continuing operations increased by 203 million pounds to 593 million pounds. Total net written premiums, including the exchanges managed by Farmers, were 7 percent higher at 6,818 million pounds.
 In the general business sustained recovery at Eagle Star and further progress from Farmers led to a trading profit from continuing operations of 364 million pounds (1992 187 million pounds). In the life business there was strong all round growth in premium income, the profit up by an encouraging 13 percent to 229 million pounds.
 Tobacco trading profit rose to 889 million pounds for the nine months but the impact of the U.S. cigarette price war on Brown & Williamson led to reduced profits in the third quarter. Profit for the nine months was 14 percent lower if the gain on the exchange of brands is excluded.
 Chairman Sir Patrick Sheehy commented: "Current trading conditions are difficult in tobacco but, with the strengthening position in financial services, I have every confidence that the Group will continue to reward shareholders with dividend increases significantly in excess of the rate of inflation."
 -0- 11/3/93
 /CONTACT: David Allvey, group finance director, or Michael Prideaux, group public affairs, in London, 44-71-222-7979/
 (BTI)


CO: B.A.T. Industries ST: IN: SU: ERN

PS -- NY012 -- 9917 11/03/93 07:16 EST
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Date:Nov 3, 1993
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