NZL New Zealand It

    THE NEW ZEALAND INVESTMENT TRUST PLC                      

Result of Annual General Meeting and Chairmans Statement on Company's Future

The Company is pleased to announce that all resolutions were passed at today's
Annual General Meeting.

At the meeting, the Company's Chairman, Don Campbell, read the following
statement:

"We are pleased to report that The New Zealand Investment Trust continues to
perform strongly. The net asset value has risen to new highs in both sterling
and New Zealand dollar terms, and performance compares favourably to that of
the New Zealand Market as a whole.

In light of the proposed changes to New Zealand taxation regulations, to take
effect from 1 April 2007, the Board has been considering the future of the
Company in the interest of all the shareholders in New Zealand and the Northern
Hemisphere. The proposed legislation has yet to be tabled in the New Zealand
parliament so whilst the Board has considered a number of options it cannot
announce these at this time. It is expected that further details will be
available for release by the time of the Interim results due in July 2006.

The Company has a continuation vote in 2007 and the Board will ensure that
formal proposals are put to shareholders well in advance of this vote and the
implementation of the new legislation."

26 April 2006



END

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