Conversion of Securities

Polar Capital Technology Trust PLC
06 October 2005



POLAR CAPITAL TECHNOLOGY TRUST PLC
POLAR CAPITAL PARTNERS LIMITED
6 October 2005

CONVERSION OF SECURITIES

Polar Capital Technology Trust Plc (the 'Company') announces that following the
expiry of the warrant on 30 September 2005 warrant holders have exercised their
right to subscribe for a total of 17,149,226 ordinary shares of 25p each.

A total of 2,046,433 warrants remained unexercised following the final
subscription date of 30 September 2005 and in accordance with the terms of the
warrant particulars The Law Debenture Trust Corporation plc has been appointed
to act as warrant trustee in respect of the remaining warrants. Any shares
arising will be sold by UBS.

For further information, please call:
Chris Lunn / Will Rogers
UBS
020 4567 8000




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