Statistics & Performance Rpt

Herald Investment Trust PLC
02 August 2005


                                              HERALD INVESTMENT TRUST
                                 PRELIMINARY STATISTICS AND PERFORMANCE REPORT

                    At              At           At            Performance   Performance
                    inception       30 June      29 July       since         since inception
                    16 February     2005         2005          30 June
                    1994                                       2005 (%)      (%)

NAV (p)               98.7 p*       370.5 p      387.4 p      +4.6%          +292.5%
FTSE-100            3417.7         5113.2       5282.3        +3.3%           +54.6%
FTSE-All-share      1717.8         2560.2       2644.8        +3.3%           +54.0%
FTSE-Smallcap       2076.1         2920.2       3033.2        +3.9%           +46.1%
Extended HGSC
(capital gains ex   1750.0         2939.3       3051.1        +3.8%           +74.3%
I.T.)
Share price           90.9 p**      320.5 p     342.5 p      +6.9%          +276.8%

Premium/(Discount) to NAV/share as at 29 July 2005                           (11.6)%

UK Equity Portfolio as a %  of Net Assets at 29 July 2005***                  66.5 %

Overseas Equity Portfolio as % of Net Assets at 29 July 2005****              32.9%

Gearing/(Cash) as a % of Net Assets at 29 July 2005*****                      (0.7)%

Number of Equity Holdings at 29 July 2005                                      262

*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 3 convertibles

****  Includes 3 warrants

***** On 26th April 2005, US $47.35m was borrowed for a period of 6 months at 
      3.79%.

The Net Assets at 31/07/2005  was £339m.
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
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