Holding(s) in Company

New India Investment Trust PLC
16 March 2007

                                                                      APPENDIX 3

TR-1i: NOTIFICATION OF MAJOR INTERESTS IN SHARES

(1).      Identity of the issuer or the underlying issuer of existing shares to
which voting rights are attached (ii):

            New India Investment Trust Plc

2.         Reason for the notification (please state Yes/No):

An acquisition or disposal of voting rights: No

An acquisition or disposal of financial instruments which may result in the
acquisition of shares already issued to which voting rights are attached: No

An event changing the breakdown of voting rights: No

Other: Initial notification of major interest due to change of thresholds as per
Transparency Directive - DTR 5.1.2

3.         Full name of person(s) subject to the notification obligation (iii):

           Utilico Emerging Markets Ltd

4.         Full name of shareholder(s) (if different from 3.) (iv):

           n/a

5.         Date of the transaction and date on which the threshold is crossed or
reached (v):

           n/a

6.         Date on which issuer notified:

           15 March 2007

7.         Threshold(s) that is/are crossed or reached:

           16%

8.         Notified details:

           n/a


A: Voting rights attached to shares


Class/type of shares if possible      Situation previous to the          Resulting situation after the
using the ISIN CODE                  Triggering transaction (vi)         triggering  transaction (vi)

                                                 n/a                                  n/a




Resulting situation after the triggering transaction (vii)


Class/type of shares if          Number of shares       Number of voting rights (ix)       % of voting rights
possible using the ISIN CODE
                                       n/a             Direct (x)     Indirect (xi)       Direct      Indirect
                                                          n/a              n/a              n/a         n/a



B: Financial Instruments

Resulting situation after the triggering transaction (xii)


Type of         Expiration Date       Exercise/Conversion       Number of voting rights     % of voting rights
financial       (xiii)                Period/ Date (xiv)        that may be acquired if the
instrument                                                      instrument is exercised/
                                                                converted.
Warrants             30/06/2010       n/a                       2,120,000                   16.52%
GB0006048887





Total (A+B)
   Number of voting rights          % of voting rights

   2,120,000 (if exercised)               16.52%





9.      Chain of controlled undertakings through which the voting rights and/or
the financial instruments are effectively held, if applicable (xv):

n/a



Proxy Voting:



10.    Name of the proxy holder:

            Utilico Emerging Markets Ltd



11.       Number of voting rights proxy holder will cease to hold:

            n/a.



12.       Date on which proxy holder will cease to hold voting rights:

            n/a.



13.       Additional information:

            n/a


14.       Contact name:

            Judith Wynne, Aberdeen Asset Managers Ltd



15.       Contact telephone number:

            0131 313 6436






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