NZL New Zealand It

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

14 March 2008

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

The Company released an announcement on 29th February 2008 concerning the
result of the second EGM and the calculation of Residual Net Asset Value at �
4.5545 per Share. Since that time, the liquidators have finalised the division
of the Company's assets into the various Rollover Pools, transferred the assets
in the Rollover Pools to the Rollover Funds and realised the assets comprising
the Cash Pool.

The CF iimia Growth and Income Fund Share Issue Price as at 10.00 am on 3 March
2008, the date of transfer of the relevant assets, was 131.47p per share and
Shareholders who elected for the CF iimia Growth and Income Fund Option have
received 3.421 CF iimia Growth and Income Fund Shares for every Share held.
Contract notes for these have been despatched.

The Brook Tasman Unit Issue Price has been determined as at 4 March 2008, the
date of transfer of the relevant assets, at NZ$1.057 per Unit and Shareholders
who elected for the Brook Tasman Fund Option have received 10.4979 Brook Tasman
Units for every Share held. Transaction statements for these have been
despatched.

The total realisations from the Cash Pool amounted to �31,868,566.38 and the
first distribution to Shareholders with "C" rights will be �4.484 per Share
(NZ$ 11.2364 for those Shareholders on the New Zealand register). The
distribution is less than the calculated Residual Net Asset Value as a result
of the decline in the value of the New Zealand dollar against pounds sterling
following the Calculation Date. The first distribution is being made on 14
March 2008.

Enquiries:

Landsbanki Securities (UK) Limited

Paul Fincham/Jonathan Becher

+44 (0)20 7426 9000

KPMG

Lynn Churchill

+44 (0)20 7694 3687

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