Statement re Dividend Policy

Witan Investment Trust PLC
21 October 2004


21 October 2004

                           WITAN INVESTMENT TRUST PLC

               Witan dividend set to grow in line with inflation

Witan Investment Trust announced today that its dividend policy would remain
unchanged, in that the Trust intends to grow the dividend in line with inflation
year on year.  The Board has reviewed its options following the appointment of a
new management team in September 2004.

Harry Henderson, Chairman of Witan commented, 'I mentioned at the time of
Witan's interim results in July that the Board would state the Trust's view on
the dividend before the end of 2004.  I am pleased to report that the Board have
carefully managed the costs associated with Witan's strategic changes and this
allied to lower investment management fees means that the Trust will keep its
policy on dividends unchanged.'


                                    - ENDS -

Notes:

Current Witan dividend yield: 2.7%
Average dividend yield for the Global Growth sector: 2.2%
(source:  AITC MIS at 30 September 2004).

Investors seeking further information on Witan should call 0800 082 81 80 or
visit www.witan.com.


For further information please contact:

James Budden
Marketing Director
Witan Investment Trust plc
Tel: [phone]
[e-mail]

OR

Eleanor Clarke/Gordon Puckey
quill communications
Tel: [phone] 7763 6975
[e-mail]
[e-mail]


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