Transaction in Own Shares

Herald Investment Trust PLC
16 February 2007

                           HERALD INVESTMENT TRUST plc

                           Purchase of Own Securities

On 16 February 2007, the Company purchased for cancellation 150,000 ordinary
shares at a price of  400.0p.

There remain 87,406,010 ordinary shares in issue.

                                                            Baillie Gifford & Co

                                                             Company Secretaries

                                                                16 February 2007


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