RNS Number:3100T
Ivory & Sime ISIS Trust PLC
16 December 2003



Ivory & Sime ISIS Trust plc

To:          RNS

From:        Ivory & Sime ISIS Trust plc

Date:        16 December 2003



TRANSACTION IN OWN SHARES

On 16 December 2003 Ivory & Sime ISIS Trust plc bought 400,000 of its own
Ordinary Shares of 1p for cancellation at a price of 57.00p each. There are
71,046,790 shares in issue following this repurchase.




Martin A Cassels

ISIS Asset Management plc

Secretaries


Enquiries: 0131 465 1000




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