Statement re Group Structure

New India Investment Trust PLC
29 December 2004


New India Investment Trust PLC
Update on group structure


The Company's Mauritian subsidiary must obtain a licence under the Mauritius
Companies Act 2001 and the Mauritius Financial Services Development Act 2001 in
order for the group to commence investing directly in India. The licence
application has now been approved and the process of investing the portfolio
into companies incorporated in India or deriving significant revenue or profit
from India will commence.


It is expected that the announcement of daily net asset values will include the
level of cash and near cash alternatives until such time as the portfolio is
substantially invested.


Enquiries


William Salomon

Chairman

Tel: [phone]


Stephen Folland

Company Secretary

Tel: [phone]



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