Interim Management Statement

The Edinburgh Investment Trust plc - INTERIM MANAGEMENT STATEMENT FOR THE         
QUARTER ENDED 30 JUNE 2007                                                        
                                                                                  
Objective                                                                         
                                                                                  
The company's objective is to achieve capital growth at a higher rate than the    
FTSE All-Share and dividend growth above the rate of UK inflation.                
                                                                                  
Benchmark                                                                         
                                                                                  
FTSE All-Share Index                                                              
                                                                                  
Review of Period (total return)                                                   
                                                                                  
During the period:                                                                
                                                                                  
- the NAV increased by 4.9% (debt at par) and 6.0% (debt at market value)         
against a 4.5% return for the benchmark.                                          
                                                                                  
- the share price increased by 3.0%.                                              
                                                                                  
- there have been no material changes to the Company's portfolio during the       
period.                                                                           
                                                                                  
- the amount of cash held by the Company was increased marginally during the      
period, resulting in net gearing being 10.6% on 30 June. This reflects a degree   
of caution over equity market levels in the short term. The Board and Managers    
continue to believe that investment in equities will produce strong returns for   
shareholders over the long term.                                                  
                                                                                  
- the Company repurchased 6,192,000 shares for cancellation.                      
                                                                                  
Since the quarter end:                                                            
                                                                                  
- share repurchases have continued with a further 4,200,000 shares being          
repurchased for cancellation.                                                     
                                                                                  
Material Events                                                                   
                                                                                  
The annual report for the year to 31 March 2007 was published.                    
                                                                                  
Additional Information                                                            
                                                                                  
Details of the Company                      Dealing Information                   
                                                                                  
Investment          Rita Grewal             Listed:       London Stock Exchange   
Director:                                                                         
                                                                                  
Enquiries:          08457 100 456           Broker:       UBS                     
                                                                                  
                                                          Dresdner Kleinwort      
                                                                                  
WWW Address:        http:/                  Price quoted: Financial Times         
                    www.fidelity.co.uk                                            
                                                          The Scotsman            
                                                                                  
Fidelity take-on    1 August 2002           Reuters Code: EDIN.L                  
date:                                                                             
                                                                                  
Ordinary Shares In  209,304,748             ISIN:         GB0003052338            
Issue:                                                                            
                                                                                  
Share price         14.9%                   SEAQ Code:    305233                  
discount to NAV:                                                                  
                                                                                  
Total Assets:       £1,408.4m                                                     
                                                                                  
Debentures:         £200m                                                         
                                                                                  
Total Net Assets:   £1,208.4m                                                     
                                                                                  
Gross Gearing :     16.6%                                                         
                                                                                  
Net Gearing:        10.6%                                                         
                                                                                  
                             Portfolio Breakdowns                                 
                                                                                  
Sector analysis    As at 30   As at 31  Largest 10 holdings    As at 30 As at 31  
                   June 2007  March                            June 2   March 2007
(% total assets)              2007      (% total assets)       007                
                                                                                  
Financials         20.7       19.8      BP                     8.7      8.8       
                                                                                  
Oil & Gas          17.6       15.5      Vodafone Group         8.1      6.7       
                                                                                  
Industrials        15.3       16.8      Royal Bank of Scotland 6.4      7.0       
                                        Group                                     
                                                                                  
Consumer Services  13.7       14.0      HSBC Holdings (UK Reg) 5.7      5.8       
                                                                                  
Telecommunications 9.7        8.6       Royal Dutch Shell `B'  4.8      4.1       
                                        (UK)                                      
                                                                                  
Consumer Goods     7.8        8.8       National Grid Transco  4.5      5.0       
                                                                                  
Utilities          7.0        8.2       British American       3.4      3.4       
                                        Tobacco                                   
                                                                                  
Health Care        4.5        5.0       Imperial Tobacco Group 2.2      2.2       
                                                                                  
Basic Materials    3.0        2.8       Man Group*             2.2      -         
                                                                                  
Other              0.7        0.5       BG Group*              2.0      -         
                                                                                  
                                        Smiths Group**         -        2.4       
                                                                                  
                                        BHP Billiton**         -        2.3       
                                                                                  
                                        * not in top 10 at 31                     
                                        March 2007                                
                                                                                  
                                        ** no longer in top 10                    
                                        at 30 June 2007                           

                      Performance Record (total return %)                      
                                                                               
                     Price  Quarter to Quarter to 1 Year    3 Years  5 Years   
                     (p)     30 June    31 March   to 30     to 30    to 30    
                               2007       2007      June   June 2007   June    
                                                    2007              2007†    
                                                                               
NAV (debt at par)    576.69    4.9        2.7       20.8     71.0       -      
                                                                               
NAV (debt at market  554.41    6.0        3.1       23.2       -        -      
value)                                                                         
                                                                               
Ordinary share price 485.50    3.0        4.0       26.2     82.2      72.8    
                                                                               
Benchmark Index                4.5        2.9       18.4     68.2      77.5    
                                                                               
                 Standardised Performance (total return %)                     
                                                                               
                     30/06/2002   30/06/2003 30/06/    30/06/2005 30/06/       
                                             2004                 2006         
                     30/06/2003   30/06/2004           30/06/2006              
                                             30/06/               30/06/       
                                             2005                 2007         
                                                                               
NAV                       -          17.7      19.7       18.3      20.8       
                                                                               
Ordinary Share price    -16.9        14.1      21.0       19.3      26.2       
                                                                               
Benchmark Index          -9.7        16.9      18.7       19.7      18.4       

† Fidelity became manager on 1 August 2002.

Past performance is not a guide to future returns. The value of investments can
go down as well as up. For funds that invest in overseas markets, changes in
currency exchange rates may affect the value of an investment. Investments in
small and emerging markets can be more volatile than other more developed
markets. Source of performance: Datastream as at 30 June 2007. Basis: bid-bid
with net income reinvested. Fidelity only gives information about its own
products and services and does not provide investment advice based on
individual circumstances. Fidelity Investment Trusts are managed by Fidelity
Investments International. Fidelity, Fidelity International and Pyramid Logo
are trademarks of Fidelity International Limited. Issued by Fidelity
Investments International, authorised and regulated in the UK by the Financial
Services Authority.

CB31704/1007