Stats & Performance Rpt-Amend

Herald Investment Trust PLC
7 June 2001


The issuer advises that an amendment has been made to the 'Statistics &
Performance Report' announcement released today at 12:27 under RNS Number
8685E.

The Basic NAV (p) figure should read 373.8p and not 378.8p as previously
stated. All other details remain unchanged. The full corrected version is
shown below.



                              HERALD INVESTMENT TRUST
                         STATISTICS AND PERFORMANCE REPORT
                At inception      At          At        Performance Performance
                16-February       30-April    31-May    since 30    since
                                                        Apr         inception
                        1994          2001       2001   2001 (%)      (%)

Basic NAV (p)            98.7 p*     379.0 p    373.8 p       -1.4%     +278.7%
FTSE-100               3417.7       5966.9     5796.1         -2.9%      +69.6%
FTSE-All-share         1717.8       2869.0     2811.2         -2.0%      +63.7%
FTSE-Smallcap          2076.1       3051.4     3107.1         +1.8%      +49.7%
HGSC (ext cap
gains ex I.T.)         1750.0       2592.6     2641.4         +1.9%      +50.9%
Shareprice               90.9 p**    392.5 p    381.0 p       -2.9%     +319.1%
Warrant price            45.5 p      288.5 p    281.0 p       -2.6%     +517.6%

Premium/(Discount) to fully diluted NAV/share as at 31st May 2001          4.9%
UK Equity Portfolio as a % of Shareholders' Funds at 31st May 2001***     53.4%
Overseas Equity Portfolio as % of Shareholders' Funds at 31st May         33.9%
2001****
Gilts and cash net of loan as a % of Shareholders' Funds at 31st          12.7%
May 2001
Number of Equity Holdings at 31st May 2001                                  237

*100p is shareholders' 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. The CGT base for the warrant
is 45.5p
***Includes 2 convertibles and 3 warrants
****Includes 1 convertible and 1 warrant
***** On 7th January 1999, JPY 551,500,000 was borrowed for a period of 5 years.

The NAV at 31/05/01 was £315.7m & the fully diluted NAVp/share 363.31p.

There are 84,453,686 shares currently in issue, and 3,353,663 warrants
outstanding.

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 regulated by IMRO. 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. Warrants often involve a high degree of gearing so
that a relatively small movement in the price of the security to which the
warrants relate may result in a disproportionately large movement, unfavourable
as well as favourable, in the price of the warrants.

These figures are not audited.