Transaction in Own Shares

Polar Capital Technology Trust PLC
13 August 2004


Polar Capital Technology Trust

Cancellation of Warrants

Polar Capital Technology Trust PLC announces that it has purchased 145,000
warrants at 46p per warrant today for cancellation.

The number of warrants in issue, following the cancellation of the above
purchase will be 22,117,533.

Polar Capital Technology Trust PLC has purchased in aggregate 4, 220,000
warrants (including the above purchase) since 1999 being 14.34% of the initial
issue of 29,419,302 warrants.


Friday, 13 August 2004.


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