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Independent Inv Tst (IIT)

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Wednesday 13 November, 2002

Independent Inv Tst

Issue of Equity

Independent Investment Trust PLC
13 November 2002

                      THE INDEPENDENT INVESTMENT TRUST PLC



The Board of Directors of The Independent Investment Trust PLC announces that it
has today allotted 2,866,020 ordinary shares of 25p each in the capital of the
Company at a price of 119p per ordinary share, subject to admission of such
ordinary shares to the Official List of the UK Listing Authority and to trading
on the main market of the London Stock Exchange.



Following admission of these shares to the Official List of the UK Listing
Authority there will be 59,400,000  ordinary shares in issue.




Enquiries:     Max Ward 0131 2202 4167 (The Independent Investment Trust plc)

                        Angus Gordon Lennox 020 7588 2828 (Cazenove & Co Ltd)






                                                           Baillie Gifford & Co.

                                                                     Secretaries

                                                               26 September 2002







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