EFM discussions with Hermes

Edinburgh Investment Trust PLC
4 March 2002

4 March 2002



                       THE EDINBURGH INVESTMENT TRUST PLC


Edinburgh Fund Managers' Discussions with Hermes Pensions Management

The Board of The Edinburgh Investment Trust PLC ('EIT') notes today's
announcements by Edinburgh Fund Managers ('EFM') and Hermes Pensions Management
('Hermes').

The Investment Management Agreement ("the Agreement") between EIT and its
managers EFM incorporates a provision, already in the public domain, to the
effect that the Agreement can be terminated without compensation should control
of the managers change.

The Board of EIT met representatives of Hermes on 25 February 2002 and confirmed
to Hermes that in the event of any change of control of its managers, EIT would
initiate a process whereby EFM and other fund managers would be invited to
tender for the Investment Management Contract.

In the best interests of shareholders, the Board of EIT continues closely to
monitor its on-going relationship with EFM in the context of the Agreement,
whose Notice Period was reduced in October 2001 from 12 months to three months.


Enquiries


Lord Eglinton                        01250 883 222


UBS Warburg Ltd.

Will Rogers                          020 7568 2939

John Korwin-Szymanowski              020 7568 4219



                      This information is provided by RNS
            The company news service from the London Stock Exchange