Appointment of New Director

Herald Investment Trust PLC
23 July 2004

                          Herald Investment Trust plc

                            Appointment of Director

Mr Tim Curtis who is Chief Executive of Telemetrix has been appointed a
non-executive Director of Herald Investment Trust plc with effect from 22 July
2004.

Mr Tim Curtis does not currently hold shares in the Company.

The appointment of Mr Tim Curtis falls to be ratified by Shareholders at the
Annual General Meeting of the Company which is to be held in April 2005.



                                                           Baillie Gifford & Co.

                                                             Company Secretaries

                                                                    23 July 2004


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