Net Asset Value(s)

NEW STAR INVESTMENT TRUST PLC

Net Asset Value

The Net Asset Value ("NAV") per share of New Star Investment Trust PLC at
31 July 2008 was as follows:

NAV per share, ex income (based on mid-market valuations)             130.13p
                                                                             
NAV per share, ex income (based on bid valuations)                    129.81p
                                                                             
NAV per share, cum income (based on mid-market valuations)            130.89p
                                                                             
NAV per share, cum income (based on bid valuations)                   130.57p