Transaction in Own Shares

Herald Investment Trust PLC
21 February 2007

                            HERALD INVESTMENT TRUST plc

                           Purchase of Own Securities

On 20 February 2007, the Company purchased for cancellation 40,000 ordinary
shares at a price of  399.99p.

There remain 87,366,010 ordinary shares in issue.

                                                            Baillie Gifford & Co
                                                             Company Secretaries
                                                                21 February 2007


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