Transaction in Own Shares

Herald Investment Trust PLC
13 March 2007


                           HERALD INVESTMENT TRUST plc

                           Purchase of Own Securities

On 12 March 2007, the Company purchased for cancellation 250,000 ordinary shares
at a price of  400.00p.

There remain 87,116,010 ordinary shares in issue.

                                                            Baillie Gifford & Co
                                                             Company Secretaries

                                                                   13 March 2007


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