Transaction in Own Shares

British Empire Sec & Gen Tst PLC
07 September 2004

British Empire Securities and General Trust p.l.c.

10 3/8 % Debenture Stock 2011

The Company announces that on 6 September 2004, it purchased for cancellation
£3,368,382 in nominal value of its 10 3/8 % Debenture Stock 2011 for a total
cash consideration (including 69 days accrued interest) of £4,225,478.33.

Following the purchase and cancellation there will be £8,514,940 in nominal
value of 10 3/8 % Debenture Stock 2011 still in issue.

Phoenix Administration Services Limited

Secretary

7 September 2004


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