Purchase of Own Securities

Polar Capital Technology Trust PLC
03 July 2003


Polar Capital Technology Trust


Cancellation of Warrants


Polar Capital Technology Trust PLC announces that it has purchased 1,000,000
warrants at 36.75p per warrant on 3 July for cancellation.

Polar Capital Technology Trust PLC has purchased in aggregate 3,675,000 warrants
(including the above purchase) since 1999 being 12.49% of the initial issue of
29,419,302 warrants.

The number of warrants in issue, following the cancellation of the above
purchase will be 23,840,659.


3 July 2003.



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