Transaction in Own Shares

British Portfolio Trust PLC
01 July 2004


British Portfolio Trust plc announces that on 1 July 2004 it purchased, for
cancellation, 32,000 Ordinary 1p Shares (representing 0.07% of the issued
Ordinary Capital), at a price of 121p per Ordinary Share.

Settlement and cancellation of the purchased 32,000 Ordinary Shares is due on 6
July 2004 when the issued share capital of the Trust will fall to 48,056,561
Ordinary 1p Shares.

Enquiries:

P W I Ingram

Company Secretary

Tel: [phone]

1 July 2004


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