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Independent Inv Tst (IIT)

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Friday 01 March, 2002

Independent Inv Tst

Result of AGM

Independent Investment Trust PLC
1 March 2002

                      The Independent Investment Trust PLC

                    Annual General Meeting  28 February 2002

At the First Annual General Meeting of the Company held on 28 February 2002 all
resolutions, including the special resolution detailed below, were passed

Special Resolution

Renewal of share buy-back authority

Shareholders approved a special resolution renewing the Company's authority to
make market purchases of up to 14.99 per cent of the Company's issued share
capital, being 7,952,195 ordinary shares.

Such authority will expire at the conclusion of the AGM to be held in 2003 or 27
August 2003, whichever is earlier, unless previously varied, revoked or renewed.
Future purchases of shares will only be made at prices, which after allowing for
costs, will enhance the net asset value of the Company.

                                                           Baillie Gifford & Co.

                                                             Company Secretaries

                                                                    1 March 2002

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