Transaction in Own Shares

Second Advance Value Realisation Co
22 January 2004


Purchase of own Ordinary 0.01p Shares

Second Advance Value Realisation Company Limited announces that it has today, 22
January 2004, purchased 2,060,000 of its own Ordinary 0.01p Shares in the market
for cancellation at a price of 176p per share.

The remaining outstanding securities in the above class after the cancellation
of the shares will be 11,685,997.









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