Transaction in Own Shares

British Portfolio Trust PLC
12 December 2003

British Portfolio Trust plc announces that on 12th December  2003 it purchased,
for cancellation, 475,000 Ordinary non-ranking 1p Shares (representing 0.94% of
the issued Ordinary capital), at a price of 115p per Ordinary Share.

Settlement and cancellation of the purchased 475,000 Ordinary Shares is due on
17th December 2003 when the issued share capital of the Trust will fall to
49,799,205 Ordinary 1p Shares.

Enquiries:

P W I Ingram

Company Secretary

Tel: [phone]

12th December 2003






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