AGM Statement

The Edinburgh Investment Trust plc

At the Company's Annual General Meeting held on 19 July 2006 all resolutions
were duly passed. The resolution passed as special business renewed the
Company's authority to purchase its own shares for cancellation. This authority
is limited to 14.99% of the Company's issued share capital at the date of the
meeting.

At the Annual General Meeting, the Chairman made the following comments:

"I would like to give you some information about the Company's recent
performance. You will be well aware that equity markets generally continued to
perform quite strongly in the first few weeks of our financial year, beginning
April 2006. Quite soon, however, as a result largely of concerns about global
interest rates, and inflation, markets became less confident, prices fell, and
have remained volatile. The UK equity market has been more stable than most,
and as at the 12th of July the FTSE All-Share Index had fallen by 1.5% relative
to the level at the end of March. The Company's Net Asset Value fell by 2.3%
with debt marked to market, and the share price was 1.8% lower than on 31
March. Although any decline in the share price is of course regrettable some
short term volatility is integral to long term equity investment.

The Board is pleased to feel able to recommend a substantial increase in the
Company's dividend. As I say in my published statement, this has been achieved
as a result of higher payments from underlying investments, and a slight change
in emphasis by the manager. The Company has during the past year moved from the
`UK Growth' to the `UK Growth & Income' sector within the Industry
Classification: this we believe better reflects what shareholders want from
their investment. This year's recommended dividends represented distribution of
virtually all of the Company's earnings during the year. The Board sees no
on-going need to add to what it considers to be very strong reserves. Given the
large increase in the final dividend, we are conscious of increasing imbalance
between the two payments made during the year, and will address this when
appropriate.

Turning to the balance sheet, shareholders will be aware that the Company's
borrowings were beneficial in the last financial year, but the converse is true
as markets have fallen in the past three months. A number of shareholders have
written to me about the high cost of servicing the two debentures and asked why
they have not been redeemed. Some of those who write are not aware that this
redemption does not take place at the issue price, but at one which reflects
current interest rates - the lower the prevailing interest rates, the higher
the redemption price. To redeem last year, when interest rates were
particularly low would have cost about £10million more than doing so today.
Despite this, your Board believes that holding rather than redeeming the
debentures continues to be justified because we believe that we can achieve a
better return from the underlying equities than the underlying cost of the
debt. However, we remain flexible and ready to act quickly if the position
changes materially.

The Company's share price continues to trade at a discount to Net Asset Value -
on debt marked to market the discount last Friday was 10.83% - this is above
the average for Trusts in our Growth and Income sector. The Board seeks, later
in the meeting, the renewal of its powers to buy-back shares. If granted, this
will help to bring supply and demand more into balance and hopefully see the
share price better reflect the underlying asset value."

Mr Ian Inglis retired as a Director at the conclusion of the Annual General
Meeting and Mr Jim Pettigrew's appointment as Audit Committee Chairman in his
stead took effect.

19 July 2006

For further information please contact:

Fidelity Investments International

Richard Miles: 01737 837844

Stephen Westwood: 0207 961 4477

Edinburgh Investment Trust PLC

Scott Dobbie: 0207 645 0603