Global Mandates

Witan Investment Trust PLC
27 September 2007



WITAN INVESTMENT TRUST PLC

27 SEPTEMBER 2007


                           WITAN INVESTMENT TRUST PLC

                         WITAN EXPANDS GLOBAL MANDATES

In the latest portfolio development arising from its recent strategic review,
the £1.5bn* Witan Investment Trust announces that it has appointed a third
global manager to run 10% of the fund.

The Board of Witan has appointed Chicago-based boutique, Thomas White
International Ltd. (see notes below) to manage a new £150m global mandate.  This
appointment illustrates the progression of Witan's assets towards a more global
view and is evidence of a shift from beta to alpha generation in terms of
investment strategy.  Active global managers now run 35% of the Trust's overall
portfolio and in so doing play a critical part in Witan's tactical asset
allocation.

The Thomas White portfolio has been funded mainly by raising cash from Witan's
enhanced index portfolios.  This is a strategic investment decision not a
reflection of poor performance.  The UK mainstream portfolio mandate has been
cut from 40% to 32% (Witan's new UK weighting 38.8%) while the North American
mandate reduces from 10% to 6% (Witan's new US weighting 23.2%).  The balance of
said cuts has been distributed to the Asian portfolios.

Furthermore from the 1st of October 2007 the Trust's benchmark will change from
50% FTSE All Share Index / 50% FTSE World (ex UK) Index to 40% FTSE All-Share
Index; 20% FTSE All World North America; 20% FTSE All World Europe (ex UK); 20%
FTSE All World Asia Pacific.  As before, the benchmark will not drive portfolio
distribution.  This change recognises that the world economy in GDP terms is
increasingly split into three trading areas: the Americas, Europe and Asia
Pacific and within these regions, a large proportion of trade flows are
internal.  The Board feels an equal weighting of all three areas in the Trust's
benchmark would offer a truer gauge of its performance and give a fairer
representation of the Trust's proposition to its investors.

Jim Horsburgh, CEO of Witan said, 'The appointment of Thomas White and
subsequent portfolio rebalancing means that Witan has now a greater proportion
of its assets in alpha generating strategies and a greater exposure to global
equities than ever before.  The Board considered it expedient to reassess the
Trust's benchmark using the GDP of three key trading areas - North America,
Europe and Asia - as points of reference rather than weightings within world
indices which largely reflect the past performance of stock markets.  This new
benchmark should provide a better yardstick for investors moving forward.'

'These changes are part of the evolution of Witan as a best of breed global
investment trust.  Further announcements will be made when the Board is in a
position to do so.'

                                    - ENDS -


For further information please contact:

James Budden                     OR      Eleanor Mitchell / Hugo Mortimer-Harvey
Marketing Director                       Quill Communications
Witan Investment Trust plc               Tel: [phone]
Tel: [phone]



NOTES


* Source: AIC MIS as at 30 June 2007


Thomas White

Founded in 1992, Thomas White International, Ltd. is an owner-managed investment
management company based in Chicago, Illinois.  Its diverse investment team
averages 15 years' experience and eight together at the firm.  The company's
relative value investment process is designed to generate not only strong
returns but consistent performance and downside protection.  Assets under
management as of 31.3.07 stood at US$500m.


www.thomaswhite.com


Thomas White International global equity returns in annualised percentage terms
as at 30 June 2007

                      1 year               3 years              5 years              10 years
TWI Composite (gross) 29.1                 24.8                 18.1                 10.0
MSCI AC World Index   25.8                 18.6                 15.4                 7.6



Witan Investment Trust plc

Established in 1909, Witan is one of the UK's largest investment trusts,
managing some £1.5bn* on behalf of some 60,000 investors.  Witan is listed in
the 'Global Growth' sector.

www.witan.com


Registered as an Investment Company in England No 101625.


Changes to Witan Investment Trust's Portfolio Weightings

                       Old Witan Weightings       New Benchmark Weightings     Actual Witan Weightings
UK                     46.0                       40.0                         38.8

USA                    22.8                       20.0                         23.2

Europe                 13.8                       20.0                         16.1

Japan                  10.3                       20.0                         12.5

Asia ex Japan          7.1                        Included in the Japan        9.4
                                                  figure



Changes to Witan Investment Trust's Mandates and Managers

Mandate / Managers                      % Old                % New                % Difference

Global              Thomas White        -                    10.0                 +10.0
Global              MFS                 10.0                 10.0                 -
Global              Southeastern        15.0                 15.0                 -
UK Mainstream       HGI                 40.0                 32.0                 -8.0
UK Smaller Cos      HGI                 5.0                  5.0                  -
Europe Ex UK        Wellington          10.0                 9.0                  -1.0
North American      HGI                 10.0                 6.0                  -4.0
Japan               Brandes             5.0                  6.0                  +1.0
Asia Ex Japan       Comgest             3.5                  5.0                  +1.5
Australia           Orbis               1.5                  2.0                  +0.5

Total                                   100                  100




Latest Breakdown of Global Managers' Geographical Allocation

                       Southeastern (15%)            MFS (10%)                 Thomas White (10%)

UK                     0.0                           12.0                      9.0
USA                    49.0                          37.0                      33.0
Europe Ex UK           4.0                           37.0                      24.0
Japan                  29.0                          10.0                      14.0
Pacific Ex Japan       6.0                           3.0                       6.0
Emerging Markets       6.0                           0.0                       14.0
Cash                   6.0                           1.0                       0.0




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