Purchase of Own Securities

Graphite Enterprise Trust PLC
20 September 2002

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: 19 September 2002



Number of shares purchased: 1,500,000



Highest and lowest price paid per share (excluding expenses): 186.5p



Shares in issue following this buy-back will be: 90,800,000



Name and telephone number of contact for queries: 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: 20 March 2002


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