Transaction in Own Shares

British Portfolio Trust PLC
12 January 2004

British Portfolio Trust plc announces that on 12th January 2004 it purchased,
for cancellation, 38,000 Ordinary ranking 1p Shares (representing 0.08% of the
issued Ordinary Capital), at a price of 120p per Ordinary Share, and 157,000
Ordinary non ranking 1p Shares (representing 0.32% of the issued Ordinary
Capital).

Settlement and cancellation of both the purchased 38,000 Ordinary ranking Shares
and the purchased 157,000 Ordinary non ranking Shares is due on 15th January
2004 when the issued share capital of the Trust will fall to 49,579,205 Ordinary
1p Shares.

Enquiries:

P W I Ingram

Company Secretary

Tel: [phone]

12th January 2004






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