Conversion of Warrants

New India Investment Trust PLC
21 July 2005


                         NEW INDIA INVESTMENT TRUST PLC

                             Conversion of Warrants


New India Investment Trust plc (the 'Company') has today applied for the listing
of 18,700 Ordinary shares of 25p each ('Ordinary Shares'). The listing
application has been made following the exercise of 18,700 Warrants to subscribe
for Ordinary Shares at 100p per share ('Warrants') in the period to 14 July
2005. The Ordinary Shares will, rank pari passu with the existing Ordinary
Shares of the Company.  Following the issue there will be 47,830,750 Ordinary
Shares and 12,814,390 Warrants in issue.



Enquiries:

Charles Mearns, Aberdeen Asset Managers Limited 0131 313 1000




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