Transaction in Own Shares

Polar Capital Technology Trust PLC
25 June 2004

Polar Capital Technology Trust


Cancellation of Warrants


Polar Capital Technology Trust PLC announces that it has purchased 250,000
warrants at 58p per warrant on 24th June for cancellation.

The number of warrants in issue, following the cancellation of the above
purchase will be 23,590,659.


Polar Capital Technology Trust PLC has purchased in aggregate 3,925,000 warrants
(including the above purchase) since 1999 being 13.34% of the initial issue of
29,419,302 warrants.


25th June 2004.


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