Directorate Change

New Star Investment Trust Plc

Directorate Change

The Company is pleased to announce that Mr James Kenneth Roe (Aged 70) has been
appointed as a Director and Chairman of the Company with effect from 31st
August 2005.

Mr Roe has been a director of the following companies in the last five years:

Current Directorships:                 JP Morgan Fleming Income & Capital    
                                       Investment Trust PLC                  
                                                                             
Past Directorships: (last 5 years):    The Fleming Income and Capital        
                                       Investment Trust PLC                  
                                                                             
                                       New Star Enhanced Income Trust PLC    
                                                                             
                                       NSEIT Zeros 2008 PLC                  
                                                                             
                                       European Growth & Income Trust PLC    
                                                                             
                                       Jupiter European Investment Trust PLC 
                                                                             
                                       GAM Selection Inc.                    
                                                                             
                                       Asia Specialist Growth Fund S.I.C.A.F.

Mr James Roe has an interest in 2,290,048 Ordinary shares of £0.01 each which
represents 3.22% of the issued share capital of the Company.

New Star Investment Trust Plc announces that the Board has accepted the
resignation of Mr John E. Craig as a Director and Chairman of the Company with
effect from 31st August 2005.

END

Enquiries:

Philip A Butt

New Star Asset Management Limited

Telephone: [phone]