Transaction in Own Shares

British Portfolio Trust PLC
21 May 2004





British Portfolio Trust plc announces that on 21 May 2004 it purchased, for
cancellation, 40,000 Ordinary 1p Shares (representing 0.08% of the issued
Ordinary Capital), at a price of 119.5p per Ordinary Share

Settlement and cancellation of the purchased 40,000 Ordinary Shares is due on 26
May 2004 when the issued share capital of the Trust will fall to 48,138,561
Ordinary 1p Shares.

Enquiries:

P W I Ingram
Company Secretary
Tel: [phone]

21 May 2004




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