Holding(s) in Company

Herald Investment Trust PLC
21 April 2008

For filings with the FSA include the annex

For filings with issuer exclude the annex



TR-1: Notifications of Major Interests in Shares



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

Herald Investment Trust PLC



2. Reason for the notification

(please place an X inside the appropriate bracket/s):



An acquisition or disposal of voting rights: ( X )



An acquisition or disposal of financial instruments which may result in the
acquisition of shares already issued to which voting rights are attached: (   )



An event changing the breakdown of voting rights: (   )



Other (please specify) : (   )

.................



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

Carrousel Capital Ltd Investment Manager



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

The Carrousel Fund Ltd

The Carrousel Fund II Ltd



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

18 April 2008



6. Date on which issuer notified:

21 April 2008



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

3%




8. Notified Details:



A: Voting rights attached to shares


Class/type of shares if possible              Situation previous to the triggering transaction
use ISIN CODE
                                  Number of shares                   Number of voting rights


Ordinary 25p shares               Below 3%



GB0004228648




                                                 Resulting situation after the triggering transaction
Class/type of shares if       Number of shares          Number of voting rights               % of voting rights
possible use ISIN CODE
                                                        Direct         Indirect               Direct       Indirect


Ordinary 25p shares           3,496,663                 3,496,663                             4.06%



GB0004228648



B: Financial Instruments

Resulting situation after the triggering transaction


Type of         Expiration date      Exercise/conversion       No. of voting rights that   % of voting rights
financial                            period/date               may be acquired (if the
instrument                                                     instrument exercised/
                                                               converted)

N/A



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


3,496,663                      4.06%



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

Carrousel Capital Ltd prime brokers hold the shares in nominees accounts.



Our prime brokers are Citigroup, Credit Suisse, Barclays Capital.



Proxy Voting:



10. Name of proxy holder:

N/A



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:





14. Contact name:

Douglas Carstairs



15. Contact telephone number:

0131 275 3176



For notes on how to complete form TR-1 please see the FSA website.








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