Interim Management Statement

THE EDINBURGH INVESTMENT TRUST PLC - INTERIM MANAGEMENT STATEMENT FOR THE            
QUARTER ENDED 30 JUNE 2008                                                           
                                                                                     
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                                                                            
                                                                                     
The FTSE All-Share Index                                                             
                                                                                     
Review of Period (total return)                                                      
                                                                                     
During the period:                                                                   
                                                                                     
- the NAV decreased by 2.6% (debt at par) and 0.9% (debt at market value)            
against a 1.4 % decrease for the benchmark.                                          
                                                                                     
- the share price decreased by 3.8%                                                  
                                                                                     
- there have been no material changes to the Company's portfolio during the          
period.                                                                              
                                                                                     
- The Board and Manager continue to believe that investment in equities will         
produce strong returns for shareholders over the long term.                          
                                                                                     
- The Company repurchased 2,428,014 shares for cancellation.                         
                                                                                     
Since the quarter end:                                                               
                                                                                     
- a further 500,000 shares have been repurchased for cancellation.                   
                                                                                     
Material Events                                                                      
                                                                                     
Third interim dividend for the year ended 31 March 2008 of 4.75 pence per share      
paid on 22 May 2008.                                                                 
                                                                                     
Publication of annual report and financial statements for the year ended 31          
March 2008.                                                                          
                                                                                     
A range of options for management of the income portfolio is under                   
consideration as announced on 18 June 2008.                                          
                                                                                     
Additional Information                                                               
                                                                                     
Details of the Company                   Dealing Information                         
                                                                                     
Fund Manager:        Rita Grewal         Listed:         London Stock Exchange       
                                                                                     
Enquiries:           08457 100 456       Broker:         UBS                         
                                                                                     
WWW Address:         http:/              Price Quoted:   Financial Times             
                     www.fidelity.co.uk                                              
                                                         The Scotsman                
                                                                                     
                                                         The Daily Telegraph         
                                                                                     
Launch Date:         31/07/2002          Reuters Code:   EDIN.L                      
                                                                                     
Ordinary Shares In   196,066,734         SEAQ Code:      305233                      
Issue:                                                                               
                                                                                     
Share price discount 15.1%               ISIN:           GB0003052338                
to NAV:                                                                              
                                                                                     
Total Assets:        £1,087.8 m                                                      
                                                                                     
Debentures:          £200.0 m                                                        
                                                                                     
Total Net Assets:    £887.8 m                                                        
                                                                                     
Gross Gearing :      22.5%                                                           
                                                                                     
Net Gearing:         16.5%                                                           
                                                                                     
                             Portfolio Breakdowns                                    
                                                                                     
Sector Analysis (%  As at 30     As at 31    Largest 10    As at 30 June  As at 31   
total assets)       June 2008    March 2008  Holdings (%   2008           March 2008 
                                             total assets)                           
                                                                                     
Oil & Gas           20.7         17.6        BP            8.5            7.6        
                                                                                     
Financials          18.9         23.0        Royal Dutch   7.9            6.2        
                                             Shell `B'                               
                                             (UK)                                    
                                                                                     
Industrials         13.7         15.6        HSBC Holdings 6.0            5.0        
                                             (UK Reg)                                
                                                                                     
Consumer Services   11.6         12.2        Vodafone      5.8            5.3        
                                             Group                                   
                                                                                     
Consumer Goods      8.0          8.8         Astrazeneca   3.7            3.0        
                                             (UK)                                    
                                                                                     
Telecommunications  7.5          6.1         Imperial      3.5            3.2        
                                             Tobacco Group                           
                                                                                     
Basic Materials     6.4          5.0         National Grid 3.4            2.9        
                                             Transco                                 
                                                                                     
Health Care         6.3          5.8         British       3.3            3.2        
                                             American                                
                                             Tobacco                                 
                                                                                     
Utilities           6.2          5.4         Anglo Amer    3.0            -          
                                             (UK) *                                  
                                                                                     
Other               0.7          0.5         BG Group *    2.8            -          
                                                                                     
                                             Royal Bank of -              4.0        
                                             Scotland                                
                                             Group **                                
                                                                                     
                                             Legal &       -              2.7        
                                             General Group                           
                                             **                                      
                                                                                     
* Not in top 10 as at 31 March 2008 ** Not in top 10 as at 30 June 2008              
                                                                                     
                      Performance Record (total return %)                            
                                                                                     
                     Price (p)   Quarter to  Quarter to 31 1 Year 3 Years 5 Years to 
                                 30 June     March 2008    to 30  to 30   30 June    
                                 2008                      June   June    2008       
                                                           2008   2008               
                                                                                     
NAV (debt at par)    452.83         -2.6         -12.1     -18.4   16.6      64.3    
                                                                                     
NAV (debt at market  436.62         -0.9         -12.5     -18.0   22.1        -     
value)                                                                               
                                                                                     
Ordinary Share price 378.50         -3.8         -11.0     -18.4   22.9      69.7    
                                                                                     
Benchmark Index                     -1.4         -9.9      -13.0   23.2      71.0    
                                                                                     

                   Standardised Performance (total return %)                   
                                                                               
               30/06/2003   30/06/2004   30/06/2005   30/06/2006   30/06/2007  
                                                                               
               30/06/2004   30/06/2005   30/06/2006   30/06/2007   30/06/2008  
                                                                               
NAV            -            19.7         18.3         20.8         -18.4       
                                                                               
Ordinary Share 14.1         21.0         19.3         26.2         -18.4       
price                                                                          
                                                                               
Benchmark      16.9         18.7         19.7         18.4         -13.0       
Index                                                                          
                                                                               

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 2008. 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 FIL
Investments International. Fidelity, Fidelity International and Pyramid Logo
are trademarks of FIL Limited. Issued by FIL Investments International,
authorised and regulated in the UK by the Financial Services Authority.

CB32662/NA