Guinness Flight Venture Capital Trust PLC purchased in the market 200,000 of
its own ordinary shares at a price of 43p per share on 21 November 2003. These
shares will be cancelled and the revised number of ordinary shares in issue
will become 28,456,128.

The purchase of ordinary shares was made pursuant to the authority given to the
directors at the annual general meeting on 10 June 2003.



END