Yep it's a British Eagle
I've got a more conventional frame from '91 which had full XT of the same vintage
I was suprised to find it was a British Eagle
Further digging around revealed that British Eagle weren't always a Falcon brand
They were initially independent, based in Powys, South Wales from late '80s to early(ish) '90s
They were ex-Coventry Eagle guys who didn't want to work for Falcon - Although Falcon ultimately bough out British Eagle
No quality worries at all, mine is heat treated 7005 and is immaculately put together and extremely light
Here's my mystery frame thread:
http://www.retrobike.co.uk/forum/viewtopic.php?t=129334&postdays=0&postorder=asc&start=0
There was a fantastic image in there of an e-stay exactly like your, but it seems to have been moved or deleted
And here's my build thread, I used Manitou Threes on mine as the original were actually broken!
Jump to page 7 to see how it turned out
http://www.retrobike.co.uk/forum/viewtopic.php?t=129920&postdays=0&postorder=asc&start=0
Yours will be awesome if you decide to rebuild it!
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'89 Specialized Stumpjumper Team - '8? Klein Mountain Klein (WiP) - '89 Puegeot Scorpion 531 -
'90 Look Mi80 - '91 Britsh Eagle something or other XT - '92 Specilaized Hardrock -
'93 Saracen Race Elite - '93 Specialized Stumpjumper (stolen!) - '94 GT Zaskar LE Frame sold on RB - '95 Univega Alpina 508 XT - '97 Cannonadale Super V 1000 Freeride - '97 Cannondale M900