Transaction in Own Shares

British Portfolio Trust PLC
12 July 2004


British Portfolio Trust plc announces that on 12 July 2004 it purchased, for
cancellation, 80,000 Ordinary 1p Shares (representing 0.16% of the issued
Ordinary Capital), at a price of 117p per Ordinary Share.

Settlement and cancellation of the purchased 80,000 Ordinary Shares is due on 15
July 2004 when the issued share capital of the Trust will fall to 47,886,561
Ordinary 1p Shares.

Enquiries:

P W I Ingram
Company Secretary
Tel: [phone]

12 July 2004


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