Purchase of Own Securities

Graphite Enterprise Trust PLC
28 November 2001



The Board of Graphite Enterprise Trust PLC announces that it has bought back
some of its own shares.  The details are set out below:

Date of purchase: 27 November 2001

Number of shares purchased: 44,837

Highest and lowest price paid per share (excluding expenses):223.0p

Shares in issue following this buy-back will be: 94,000,000

Name and telephone number of contact for queries: Amanda Curtis/Martin Crayton
- 020 7825 5300

Name of authorised company official responsible for making this announcement:

Amanda Curtis, for and on behalf of Graphite Capital Management Limited,
Secretary

Date of notification: 28 November 2001