Statistics & Performance Rpt

Herald Investment Trust PLC
06 July 2005


                                              HERALD INVESTMENT TRUST
                                 PRELIMINARY STATISTICS AND PERFORMANCE REPORT
                                                                                   
                             At                                                    Performance      Performance
                      inception                    At                 At                 since            since
                    16 February                31 May             30 June               31 May        inception
                           1994                  2005                2005                 2005 (%)         (%)          
                             
NAV (p)                    98.7 p*              360.9 p             370.5 p               +2.7%          +275.4%
FTSE-100                 3417.7                4964.0              5113.2                 +3.0%           +49.6%
FTSE-All-share           1717.8                2483.4              2560.2                 +3.1%           +49.0%
FTSE-Smallcap            2076.1                2827.0              2920.2                 +3.3%           +40.7%
Extended HGSC
(capital gains ex        1750.0                2837.4              2939.3                 +3.6%           +68.0%
I.T.)
Share price                90.9 p**             315.0 p             320.5 p               +1.7%          +252.6%

Premium/(Discount) to NAV/share as at 30 June 2005                                                       (13.5)%

UK Equity Portfolio as a %  of Net Assets at 30 June 2005***                                               66.7%

Overseas Equity Portfolio as % of Net Assets at 30 June 2005****                                           32.5%

Gearing/(Cash) as a % of Net Assets at 30 June 2005*****                                                  (0.8)%

Number of Equity Holdings at 30 June 2005                                                                    260

*100p was the subscription price before launch costs of 1.3p

**90.9p is CGT base subscription price for shareholders adjusting for warrants 
        which were issued on a 1 for 5 basis.

***Includes 3 convertibles

****Includes 3 warrants

***** On 26th April 2005, US $47.35m was borrowed for a period of 6 months at 
      3.79%.

The Net Assets at 30/06/2005  was £324m.

There are 87,556,010 shares currently in issue.

This Report has  been  issued  on  behalf  of  Herald  Investment  Trust plc,
and  has  been  approved  by Herald  Investment Management Limited, its
investment manager. Herald Investment Management Limited is authorised and
regulated by the Financial Services Authority.   You should remember that past
performance is not necessarily a guide to the future.  Markets and currency
movements may cause the value of shares, and the income from them, to fall as
well as rise, and you may get back less than you invested when you decide to
sell your shares.

These figures are not audited and are subject to revision when the income has
been finalised for the year.


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