Additional information for shareholders
Analysis of shareholdings Ordinary shares
of 25p each
Size of shareholding AT 31 MARCH 1996Number of shareholders Percentage of total Number of shares held (millions) Percentage of total

1 - 399 1,056,995 44.4 231 3.7
400 - 799 715,891 30.0 382 6.1
800 - 1,599 428,028 17.9 463 7.4
1,600 - 9,999 178,797 7.5 454 7.2
10,000 - 99,999 3,552 0.1 94 1.5
100,000 - 999,999 1,504 0.1 531 8.4
1,000,000 - 4,999,999 (a) 468 1,007 16.0
5,000,000 and above (b)(c) 161 3,129 49.7

Total 2,385,396 (d) 100.0 6,291 100.0 (d)

(a) Under the BT Long Term Remuneration Plan and the BT Performance Share Plan 3.3 million shares were held in trust in respect of contingent awards of shares which have been granted to 675 participants in the two plans.

(b) Under the BT Employee Share Ownership Scheme 39 million shares were held in trust on behalf of 196,449 participants who were beneficially entitled to the shares.

(c) Approximately 124 million shares were represented by American Depositary Receipts and a further 15 million shares were held by a nominee of the Tokyo Stock Exchange on behalf of investors. Analysis by size of holding is not available for these holdings.

(d) 23.4% of the shares were in 2,302,881 individual holdings, of which 206,660 were joint holdings, and 76.1% of the shares were in 82,514 institutional holdings. HM Government retains a residual holding of 0.5% of the shares, to meet the requirements of the share bonus arrangements made under the offer for sale of July 1993.

BT has a listing on the Stock Exchanges in London, New York and Tokyo.

It is expected that transactions will be settled in CREST, the new system for the electronic settlement of shares in the UK, when BT shares are bought or sold on the London Stock Exchange from 9 December 1996.

BT shares are traded on the New York Stock Exchange in the form of American Depositary Shares (ADSs). Each ADS represents ten ordinary shares. Trading on the New York Stock Exchange is under the symbol ‘‘BTY’’.

In Japan, BT shares are traded on the Tokyo Stock Exchange under the code ‘‘9484’’.

The proposed 1996 final dividend will be paid on 16 September to shareholders on the register on 13 August 1996. The expected dividend payment dates in 1997 are:

1997 interim dividend payable February 1997
1997 final dividend payable September 1997

Personal equity plans
Halifax Investment Services, regulated by IMRO, offers both a BT single company and a corporate PEP. For information, please contact Halifax Investment Services Limited, Trinity Road, Halifax HX1 2RG, or call Freefone 0800 371 769.

Results announcements
Expected announcements of results:

1st quarter 25 July 1996
2nd quarter and half year 14 November 1996
3rd quarter and nine months February 1997
4th quarter and full year May 1997
1997 annual report and accounts published June 1997

Form 20-F
The company will file an annual report on Form 20-F with the Securities and Exchange Commission in the USA, by 30 September 1996.

Regulatory financial statements
The company will publish historical cost Financial Statements for the Businesses and Activities and Current Cost Financial Statements for the year ended 31 March 1996, as required by Oftel, by 31 July 1996 and 30 September 1996, respectively.

Copies of the Form 20-F, the Financial Statements for the Business and Activities, the Current Cost Financial Statements and details of quarterly results announcements, when available, may be obtained on request from the BT Shareholder Helpline provided by the company’s Registrar.

The Registrar
Lloyds Bank Registrars (450)
The Causeway
Worthing, West Sussex
BN99 6DA, England
BT Shareholder Helpline
Tel Lo-call 0345 414141
Fax (01903) 833062
From overseas:
Tel +44 1903 833950
Fax +44 1903 833062
When you use one of BT’s Lo-call 0345 numbers from anywhere in the UK, you pay only the price of a local call. Different rates apply to calls from non-BT networks.

BT North America Inc.,
Investor Relations
40 East 52nd Street
New York, NY 10022,

Tel 1 800 331 4568
(toll free within USA and Canada)
or +1 212 418 7787
(from outside USA and Canada)
Fax +1 212 418 7788
ADR Depositary
Morgan Guaranty Trust Company of New York
ADR Service Center
2 Heritage Drive
North Quincy, MA02171

Tel 1 800 634 8366 (toll free)
or (617) 575 4328

BT (Japan) KK
Ark Mori Building
PO Box 554
12-32 Akasaka 1-Chome
Minato-Ku, Tokyo 107

Tel (03) 5562 6000
Share Handling Agent in Japan
The Toyo Trust & Banking Co. Ltd.
Tokyo Office:
10-11 Higashisuna 7-Chome
Koto-Ku, Tokyo 137-81
(Corporate Agency Department)

Tel (03) 5683 5111
Osaka Office:
6-3 Fushimi-machi 3-Chome
Chuo-Ku, Osaka 541
(Corporate Agency Department)

Tel (06) 222 3111

Shareholder enquiries
Lloyds Bank Registrars maintain BT’s share register and the separate BT Employee Share Ownership Scheme register. They also provide a BT Shareholder Helpline service.

Shareholders should contact the Registrar (details above) if they have any enquiries about their shareholding.

General enquiries
British Telecommunications plc
BT Centre
81 Newgate Street
London EC1A 7AJ

Tel (0171) 356 5000
Fax (0171) 356 5520
From overseas:
Tel +44 171 356 5000
Fax +44 171 356 5520