Dr. Charles Woodburn, the Group Chief Executive Officer of BAE Systems plc, has exercised 704,014 performance shares under the BAE Systems Long Term Incentive Plan (LTIP). Subsequently, he sold 331,716 shares to satisfy income tax and NIC liabilities. The shares were sold at a price of £12.546 per share. As a result of the transaction, Dr. Woodburn retained 372,298 shares. The transaction took place on 24-03-08.