LAX Laxey It

    The Laxey Investment Trust PLC 

                          Sale of largest investment                           

                              Ceylon Tea Services                              

In March 2007, The Laxey Investment Trust PLC started a two year realisation
and transition phase with the objective of selling existing illiquid Sri Lankan
investments and re investing the proceeds in accordance with its new investment
policy. That policy is one of an active value investor and the core strategy of
the manager Laxey Partners Ltd. Most of the Sri Lankan investments are listed
on the Colombo market but are extremely illiquid and sales are the result of
private negotiation. We are pleased to announce that we have sold the Company's
largest investment called Ceylon Tea Services, which represented 31% of the
portfolio and at a premium of 18% to the then prevailing price. The proceeds
will be re invested as previously outlined in active value positions.

For further information, please contact

Richard Batey, Maclay, Murray & Spens LLP, Company Secretary

Tel: 020 7002 8515

Gill Smith, Laxey Partners (UK) Limited,

Tel: 020 7494 6380

8 October 2007



END

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