Statement re Reconstruction

New Star Investment Trust PLC
27 September 2002


New Star Investment Trust announces that the cancellation of the Neptune Pool
Shares created as part of the reorganisation of the Company remains subject to
Companies House issuing a certificate confirming the cancellation. A further
announcement will be made by the Company once this certificate has been issued
and the Neptune Pool Shares have been cancelled.


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