Transaction in Own Shares

Personal Assets Trust PLC
19 July 2004


Personal Assets Trust plc
          
To:       Company Announcements

From:     Personal Assets Trust plc

Date:     19 July 2004


PURCHASE OF OWN SECURITIES

On 19 July 2004 Personal Assets Trust plc bought 2,500 of its own Ordinary
Shares of £12.50 for cancellation at a price of £201.00 each. There are 647,521
shares in issue following this repurchase.


G R Hay Smith

Company Secretary



Enquiries: 0131 465 1000


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