Transaction in Own Shares

Herald Investment Trust PLC
28 June 2007


                           HERALD INVESTMENT TRUST plc

                           Purchase of Own Securities

On 27 June 2007, the Company purchased for cancellation 45,000 ordinary shares
at a price of  405.8889p.

There remain 86,971,010 ordinary shares in issue.

                                                            Baillie Gifford & Co

                                                             Company Secretaries

                                                                    28 June 2007


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