Interim Management Statement

The European Investment Trust plc

Interim Management Statement

for the quarter ended 30 June 2011

The Board of The European Investment Trust plc ('the Company') announces its
Interim Management Statement for the period from 1 April 2011 to 30 June 2011.
This statement is required by the UK Listing Authority's Disclosure and
Transparency Rules and should not be relied upon for any other purpose.

Objective

The objective of the Company is to achieve long-term capital growth through a
diversified portfolio of Continental European securities.

Financial Summary                   30 June 2011  31 March 2011    % Change
                                                                           
                                                                           
Net assets                               £301.85m      £295.44m       +2.2 
                                                                           
Net asset value ("NAV") per share         711.89p       696.79p       +2.2 
                                                                           
Share price                               605.00p       584.00p       +3.6 
                                                                           
Share price discount to net asset           15.0%         16.2%            
value                                                                      

Manager's review

Performance

The NAV per share of the Company increased by 2.2% during the quarter ended 30
June 2011 to 711.89p which compares with an increase of 2.6% in the FTSE
All-World Europe ex UK Index in sterling. The Company's share price increased
by 3.6% from 584p to 605p and as a consequence the share price discount to net
asset value reduced from 16.2% to 15.0%.

Review of markets

The quarter under review was dominated by the European sovereign debt crisis.
During the quarter the EU and the IMF progressively increased the pressure on
Greece; initially refusing further financial support unless the revised
austerity package was approved. While this occurred at the end of June the
brinksmanship involved in the process created substantial uncertainty for
investors and those concerns continued into the current quarter and required a
further rescue package from the EU and the IMF in July 2011.

This co-ordinated policy response provided only temporary relief to markets.
Subsequent to the end of the quarter under review, contagion fears resurfaced
and were added to by tensions over the US fiscal position and a series of weak
economic releases. This confluence of events caused markets to fall sharply.

Portfolio strategy

During the quarter under review portfolio activity was concentrated on
disposing of investments which had delivered good returns and had reached high
valuation levels. These included Solvay, the Belgian based chemicals company
and United Internet, the German based internet service provider and a leading
provider of web-hosting services. The monies were re-invested in companies with
good growth prospects which were on lower valuations. Examples include
Unilever, the Dutch based global manufacturer of branded and packaged consumer
goods and Aixtron, the German based provider of equipment to LED manufacturers.

Subsequent to the quarter end and following the sharp fall in markets the
portfolio has further evolved. We identified opportunities in high quality
companies, where a combination of brand strength, pricing power and long term
growth was being offered on low valuations. Shares in Pernod Ricard, Swatch and
D'Ieteren were purchased, replacing companies with lower long-term growth
prospects.

Over the last year there has been an increase in exposure to the core European
countries of Germany, France and the Netherlands. This is partially due to the
economic outlook in these countries but, more importantly, the existence of
attractively priced quality multinationals which are listed there. Your
portfolio has almost no direct exposure to the domestic economies of Greece,
Ireland and Portugal. There is some exposure to Spain via BBVA, a bank set to
be a major market share winner over coming years. We also have exposure to
Italian companies, in particular, Intesa Sanpaolo and Telecom Italia, where we
consider the stock market is being too pessimistic about both sovereign
difficulties and medium term profit prospects.

Outlook

There are a number of macroeconomic uncertainties at present. The Eurozone
sovereign crisis is at the centre of these concerns. The lack of political
leadership in response to the well documented issues is understandably
troubling markets and pressures are unlikely to dissipate in the near term
unless the markets force a more proactive policy stance. Therefore continued
volatility in European markets is likely.

The fall in equity markets does, however, partially discount some of these
uncertainties. Opportunities in high quality companies on low valuations may
well continue to be seen and the Company with its long term investment focus is
well positioned to take advantage of this.

Ten largest investments at 30 June 2011                                     
                                                                         
Ranking  Company         Sector             Country                  % of
                                                                         
                                                               Net Assets
                                                                         
1        Swedbank        Financials         Sweden                    3.1
                                                                         
2        Imtech          Industrials        Netherlands               3.0
                                                                         
3        Ryanair         Consumer Services  Ireland                   2.9
                                                                         
4        Royal Dutch     Oil & Gas          Netherlands               2.8
         Shell                                                           
                                                                         
5        Sanofi-aventis  Health Care        France                    2.8
                                                                         
6        GEA Group       Industrials        Germany                   2.8
                                                                         
7        Gerresheimer    Health Care        Germany                   2.8
                                                                         
8        Ahold           Consumer Services  Netherlands               2.8
                                                                         
9        Vivendi         Consumer Services  France                    2.8
                                                                         
10       Deutsche Post   Industrials        Germany                   2.8
                                                                         
                                                                     28.6

Sector distribution         30 June 2011 
                                       
                              % of Net 
                                Assets 
                                       
Industrials                       20.8 
                                       
Consumer Services                 18.1 
                                       
Financials                        15.5 
                                       
Oil & Gas                         10.3 
                                       
Health Care                       10.2 
                                       
Consumer Goods                     9.4 
                                       
Telecommunications                 7.2 
                                       
Technology                         3.9 
                                       
Utilities                          2.3 
                                       
Basic Materials                    2.0 
                                       
Cash and other net assets          0.3 
                                       
                                 100.0 
                                       

Geographical distribution    30 June 2011 
                                       
                              % of Net 
                                Assets 
                                       
France                            19.8 
                                       
Germany                           16.9 
                                       
Netherlands                       16.1 
                                       
Switzerland                       14.1 
                                       
Italy                             10.0 
                                       
Ireland                            7.7 
                                       
Spain                              5.6 
                                       
Sweden                             3.1 
                                       
Russia                             2.3 
                                       
Belgium                            2.1 
                                       
Finland                            2.0 
                                       
Cash and other net assets          0.3 
                                       
                                 100.0 
                                       

Further Information

Further information, including monthly factsheets and daily net asset values
published since the end of the quarter, can be found on the Company's website:
www.theeuropeaninvestmenttrust.com and the Edinburgh Partners' website:
www.edinburghpartners.com.

Past performance is not a guide to future performance.

Other than as detailed above, the Board is not aware of any significant events
or transactions that have occurred between 30 June 2011 and the date of
publication of this statement which would have a material impact on the
financial position of the Company.  

17 August 2011

Enquiries:

Dale Robertson

Kenneth Greig

Edinburgh Partners Limited, 12 Charlotte Square, Edinburgh EH2 4DJ

Tel: [phone]

Registered Office of the Company:

Beaufort House, 51 New North Road, Exeter EX4 4EP

Neither the contents of The European Investment Trustplc'swebsite nor the
contents of any website accessible from hyperlinks on the website (or any other
website) is incorporated into, or forms part of, this announcement.