Transaction in Own Shares

Polar Capital Technology Trust PLC
12 May 2005


Polar Capital Technology Trust PLC

12th May 2005

Market Purchase of Company's Own Shares


Notification is given that pursuant to the authority granted at the
Extraordinary General Meeting of the Company held on 18th March 2005 to make
market purchases of the Company's own shares, market purchases of 277,000
ordinary shares of 25p each in the capital of the Company was made today at a
price of 169.00p per share and 400,000 warrants on the ordinary shares were also
purchased today at the price of 69.00p. Following this purchase and cancellation
there will be 115,043,162 shares and 19,195,659 warrants in issue.


For further information please contact:
Brian Ashford-Russell
Telephone: [phone]


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