NZL New Zealand It

    FOR IMMEDIATE RELEASE

The New Zealand Investment Trust plc ("the Company")

29 February 2008

Further re Proposals for the voluntary winding-up and reconstruction of the
Company

Result of Second General Meeting

Further to the proposals for the voluntary winding-up and reconstruction of the
Company announced on 24 January 2008, resolutions giving final effect to the
proposals were duly passed at the Second General Meeting of the Company held
today. Accordingly, the Liquidators Jeremy Spratt and Finbar O'Connell both of
KPMG of 8 Salisbury Square, London EC4Y 8BB have now been appointed to wind up
the affairs and distribute the assets of the Company in accordance with the
Scheme.

As at 5.00 pm on 28 February 2008, the Calculation Date, the Residual Net Asset
Value has been calculated at 455.45p or 1,111.38 NZ cents per Share. Cheques
for these respective amounts will be despatched in the week beginning 10 March
2008 to Shareholders who elected or were deemed to elect for the Cash Option.

The CF iimia Growth and Income Fund Share Issue Price is to be determined on
receipt of the assets by the administrator of the CF iimia Growth and Income
Fund. A further announcement will be made at that time.

The Brook Tasman Unit Issue Price is to be determined on receipt of the assets
by the trustee of the Brook Tasman Fund. A further announcement will be made at
that time.

Terms used in this announcement shall have the same meaning as in the Circular
dated 24 January 2008.

Enquiries:

Landsbanki Securities (UK) Limited

Paul Fincham/Jonathan Becher

+44 (0)20 7426 9000

First NZ Capital Securities Limited

Peter Irwin

+64 4 496 5316

Note: This announcement is made by the Company in compliance with its
objectives as a company whose shares are listed on both the Official List of
the UK Listing Authority and on the New Zealand Stock Exchange. This
announcement, which is not made by or on behalf of Brook or iimia, does not
contain or constitute an offer of securities in any of the investment vehicles
referred to in this announcement and does not contain or comprise any
recommendation, opinion or guidance to shareholders in relation to acquiring or
subscribing for, or agreeing to acquire or subscribe for, any of those
securities.


END

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