Holding(s) in Company

Herald Investment Trust PLC
02 April 2008


For filings with the FSA include the annex

For filings with issuer exclude the annex



TR-1: Notifications of Major Interests in Shares



1. Identity of the issuer or the underlying issuer of existing shares to which
voting rights are attached:

Herald Investment Trust PLC



2. Reason for the notification

(please place an X inside the appropriate bracket/s):



An acquisition or disposal of voting rights: ( X )



An acquisition or disposal of financial instruments which may result in the
acquisition of shares already issued to which voting rights are attached: (   )



An event changing the breakdown of voting rights: (   )



Other (please specify) : (   )

.................



3. Full name of person(s) subject to notification obligation:

HBOS plc



4. Full name of shareholder(s) (if different from 3) :

HBOS plc

Insight Investment Management (Global) Limited



5. Date of transaction (and date on which the threshold is crossed or reached if
different):

31 March 2008



6. Date on which issuer notified:

1 April 2008



7. Threshold(s) that is/are crossed or reached:

Direct / Indirect Holdings to above 7%




8. Notified Details:



A: Voting rights attached to shares


Class/type of shares if possible              Situation previous to the triggering transaction
use ISIN CODE
                                  Number of shares                   Number of voting rights


Ordinary 25p shares               5,733,704                          5,733,704



GB0004228648




                                                 Resulting situation after the triggering transaction
Class/type of shares if       Number of shares          Number of voting rights               % of voting rights
possible use ISIN CODE
                                                        Direct         Indirect               Direct       Indirect


Ordinary 25p shares           4,108,031                 4,108,031      1,966,588              4.775%       2.286%



GB0004228648



B: Financial Instruments

Resulting situation after the triggering transaction


Type of         Expiration date      Exercise/conversion       No. of voting rights that   % of voting rights
financial                            period/date               may be acquired (if the
instrument                                                     instrument exercised/
                                                               converted)

N/A



Total (A+B)


Number of voting rights        % of voting rights


6,074,619                      7.061%



9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable :

Insight Investment Management (Global) Limited* ('IIMGL') -

(Indirect) - 5,863,255 (6.815%)



IIMGL manages holdings on behalf of other HBOS Group

companies, and other third parties external to the HBOS Group,

under various discretionary management agreements.



(* - wholly owned subsidiaries of HBOS plc.)

Proxy Voting:



10. Name of proxy holder:

N/A



11. Number of voting rights proxy holder will cease to hold:

N/A



12. Date on which proxy holder will cease to hold voting rights:

N/A



13. Additional information:

Notification using the total voting rights figure of 86,036,523



14. Contact name:

Douglas Carstairs



15. Contact telephone number:

0131 275 3176



For notes on how to complete form TR-1 please see the FSA website.



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