Statistics & Performance Rpt

Herald Investment Trust PLC
05 October 2005


                               HERALD INVESTMENT TRUST
                  PRELIMINARY STATISTICS AND PERFORMANCE REPORT

                    At                      At               At                   Performance     Performance
                    inception               31 August        30 September         since           since inception
                    16 February             2005             2005                 31 August
                    1994                                                          2005 (%)        (%)
NAV (p)                    98.7 p*              390.9 p             392.5 p              +0.4%          +297.7%
FTSE-100                 3417.7                5296.9              5477.7                +3.4%           +60.3%
FTSE-All-share           1717.8                2659.2              2745.8                +3.3%           +59.8%
FTSE-Smallcap            2076.1                3102.9              3158.4                +1.8%           +52.1%
Extended HGSC
(capital gains ex        1750.0               3119.75              3165.3                +1.5%           +80.9%
I.T.)
Share price                90.9 p**             344.5 p             364.0 p              +5.7%          +300.4%

Premium/(Discount) to NAV/share as at 30 September 2005                                                  (7.3)%

UK Equity Portfolio as a %  of Net Assets at 30 September 2005***                                        64.5 %

Overseas Equity Portfolio as % of Net Assets at 30 September 2005****                                     33.7%

Gearing/(Cash) as a % of Net Assets at 30 September 2005*****                                            (1.9)%

Number of Equity Holdings at 30 September 2005                                                              264

*100p was the subscription price before launch costs of 1.3p

**90.9p is CGT base subscription price for shareholders adjusting for warrants 
which were issued on a 1 for 5 basis.

***Includes 2 convertibles

****Includes 2 warrants

***** On 26th April 2005, US $47.35m was borrowed for a period of 6 months at
3.79%.  Gearing is net of cash, Gilts and bonds.

The Net Assets at 30/09/2005  was £344m.
There are 87,556,010 shares currently in issue.

This Report has  been  issued  on  behalf  of  Herald  Investment  Trust plc,
and  has  been  approved  by Herald  Investment Management Limited, its
investment manager. Herald Investment Management Limited is authorised and
regulated by the Financial Services Authority.   You should remember that past
performance is not necessarily a guide to the future.  Markets and currency
movements may cause the value of shares, and the income from them, to fall as
well as rise, and you may get back less than you invested when you decide to
sell your shares.



These figures are not audited.










                      This information is provided by RNS
            The company news service from the London Stock Exchange