Transaction in Own Shares

British Portfolio Trust PLC
15 October 2004


British Portfolio Trust plc announces that on 15 October 2004 it purchased, for
cancellation, 35,000 Ordinary 1p Shares (representing 0.07% of the issued
Ordinary Capital), at a price of 127p per Ordinary Share.

Settlement and cancellation of the purchased 35,000 Ordinary Shares is due on 20
October 2004 when the issued share capital of the Trust will fall to 47,222,502
Ordinary 1p Shares.


Enquiries:

P W I Ingram
Company Secretary
Tel: [phone]
15 October 2004


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