Stats. & Performance Rpt-Rep

Herald Investment Trust PLC
11 January 2005


The issuer advises that the following replaces the Statistics & Performance Report released 10 January
2005 at 12.36pm under RNS number 1877H.

The FTSE-Smallcap as at 31 December 2004 should read 2758.1 and not 2758.2 as previously shown and the
qualification at the end of the announcement should read 'These figures are not audited and are subject
to revision when the income account has been finalised for the year.' and not 'These figures are not
audited.' as previously shown.
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 November      31 December           since            since inception
                                       2004             2004                  30 November
                    1994                                                      2004 (%)         (%)

NAV (p)                    98.7 p*            377.3 p              384.2 p               +1.8%          +289.3%
FTSE-100                 3417.7              4703.2               4814.3                 +2.4%           +40.9%
FTSE-All-share           1717.8              2345.2               2410.8                 +2.8%           +40.3%
FTSE-Smallcap            2076.1              2684.5               2758.1                 +2.7%           +32.9%
Extended HGSC
(capital gains ex        1750.0              2661.7               2752.2                 +3.4%           +57.3%
I.T.)
Share price                90.9 p**           327.8 p              322.8 p               -1.5%          +255.1%

Premium/(Discount) to NAV/share as at 31 December 2004                                                  (16.0)%

UK Equity Portfolio as a %  of Net Assets at 31 December 2004***                                          65.3%

Overseas Equity Portfolio as % of Net Assets at 31 December 2004****                                      31.3%

Gearing/(Cash) as a % of Net Assets at 31 December 2004*****                                             (3.4)%

Number of Equity Holdings at 31 December 2004                                                               255


* 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 4 convertibles

**** Includes 3 warrants

***** On 26th October 2004, US $47.35m was borrowed for a period of 6 months at 2.62%.


The Net Assets at 31/12/04  was £336.4m.

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 and are subject to revision when the income account has been finalised for the
year.


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