Transaction in Own Shares

Polar Capital Technology Trust PLC
20 July 2004

Polar Capital Technology Trust





Cancellation of Warrants





Polar Capital Technology Trust PLC announces that it has purchased 150,000
warrants at 49p per warrant today for cancellation.

The number of warrants in issue, following the cancellation of the above
purchase will be 22,262,533.



Polar Capital Technology Trust PLC has purchased in aggregate 4,075,000 warrants
(including the above purchase) since 1999 being 13.85% of the initial issue of
29,419,302 warrants.















20th July 2004.


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