Interim Management Statement

Jupiter Green Investment Trust PLC Interim Management Statement for the three months to 31 December 2008 The Board of Jupiter Green Investment Trust PLC (the "Company") is pleased to announce its interim management statement for the quarter ended 31 December 2008. Investment Manager's Report for the Quarter ended 31 December 2008 Performance Review For the three months ended 31 December 2008 the total return for the Trust was -14.9%* compared to a return of -8.8%* for the Trust's composite index**. *Source: Jupiter Asset Management. **FTSE World Smaller Companies and Russell 2500 Growth Index, rebalanced to reflect the proportion of total assets managed by Jupiter and Winslow respectively. Market and Policy Review The three months to 31 December 2008 continued to be volatile for global equity markets. Economic data was particularly poor during the period. Rising unemployment and a dramatic slump in global demand raised concern about deflation in the West. As a result, interest rates were cut further in the US, UK and Europe. Fiscal measures were announced in the UK and further stimulus appears likely in the US and Europe. The Western banking sector was partly nationalised, while highly leveraged small economies were bailed-out by the IMF. Amid worsening global economic conditions, the oil price plummeted to $45 per barrel, from $100 the previous quarter. The Trust lost ground in both absolute and relative terms. Falling energy prices, tighter access to project finance and cautious guidance led to the de-rating of the wind sector during the quarter. Clean energy holdings Novera Energy and Gamesa suffered as a result. We maintain our long term conviction in these positions. These businesses are supported by long term power purchasing agreements and government legislation. We believe the potential for project delays due to financing issues has been largely discounted and the correlation between these businesses and energy prices overplayed. Meanwhile, RPS Group (environmental services), which had a premium rating in its sector, lost ground on concern about weakening capital expenditure in the energy market. More positively, Kurita Water Industries (water management) was buoyed by positive sales and operating profit results. The water treatment company is expected to grow in 2009 in many of its core business areas (chemicals and systems), in spite of the economic slowdown. Elsewhere, Novozymes (clean energy), which has experienced strong demand for its detergent and ethanol enzymes for some time, reported strong Q3 results. Sales growth has been better than consensus and the business is proving very robust in the downturn. Finally, Stantec (environmental services) firmed after it made a bid for environmental consulting firm Jacques Whitford. The acquisition is expected to produce a number of synergies. Investment Outlook Notwithstanding the continuing weaknesses in the global economy, we believe that much of the downturn has been priced into the green sector. We maintain a relatively high cash balance which we expect to invest as the economic outlook stabilises or when companies appear cheap on a longer term view. We remain focused on balance sheet strength, particularly while corporate lending remains tight. Barack Obama's pledge to create a clean energy economy in the US is very encouraging. Within three years, he plans to double alternative energy production and to improve the energy efficiency of homes and government buildings. This will create opportunities for some of our holdings, although we are mindful that any measures will take time to translate into profits. Charles Thomas Fund Manager, Jupiter Asset Management Limited All positions mentioned are held directly within the portfolio managed by Jupiter unless otherwise stated. Total Assets as at 31 December 2008: £39,886,539 % of Total Assets Jupiter Managed Portfolio £25, 673,438 64.4 Winslow Managed Portfolio £14,213,101 35.6 Shares in Issue on 31 December 2008: 45,272,831 Net Asset Market Price Premium/ Value (p) (p) (Discount) Ordinary (undiluted) excluding 88.81 income/expenses Ordinary (undiluted) including 89.16 income/expenses 70.25 (21)% Ordinary (diluted) excluding 88.81 income/expenses Ordinary (diluted) including 89.16 income/expenses Warrants n/a 5.63 n/a Portfolio Distribution on 31 December 2008 United Kingdom 26% North America 39% Europe 16% Japan 5% Other 1% Cash and fixed interest 13% 100% The Company's exposure to other UK listed investment companies was nil on 31 December 2008. Top Ten Holdings on 31 December 2008 Company Country of Listing % of total assetes Novozymes Denmark 3.2 Cranswick United Kingdom 3.0 Vestas Wind Systems Denmark 3.0 First Group United Kingdom 2.9 Gamesa Spain 2.7 Ormat Technologies United States 2.2 Covanta United States 2.2 Atkins United Kingdom 2.2 Kurita Water Japan 2.1 Keller Group United Kingdom 2.0 25.5 Comparative Performance to 31 December 2008 1 Month % 3 Months % 1 Year % Since Last Annual Launch % Report % Total Assets* 9.8 (14.9) (31.8) (8.5) (22.2) FTSE World Smaller Cos - Ex US Index 14.3 (8.3) (35.4) (19.1) (29.2) Russell 2500 Growth Index 11.3 (9.9) (14.0) (9.1) (4.9) Composite Index 13.2 (8.8) (28.4) (13.7) (21.3) Ordinary Share NAV 9.8 (14.9) (31.8) (8.5) (22.2) Ordinary Share (7.6) (26.1) (41.9) (29.8) (35.0) Price Warrant Price (24.9) (56.7) (85.1) (73.2) (82.9) * Performance adjusted for share issue/cancellation since launch The Company's Investment Objective The Company's investment objective is to generate long-term capital growth through a diverse portfolio of companies providing environmental solutions. The Company's Investment Policy The Company invests globally in companies which have a significant focus on environmental solutions such as Clean Energy, Water Management, Waste Management, Sustainable Living, Environmental Services and Green Transport. The Company is focused on the following six green investment themes: * Clean Energy Stand alone power and back-up systems based on wind, solar, flywheels, batteries and fuel cells; bio-fuels; insulation materials; energy efficiency technologies. * Waste Management Waste reduction and associated technologies; recycling and resource management; recycled materials. * Green Transport Integrated public transport systems; vehicle emissions and energy efficiency control technologies. * Sustainable Living Healthy lifestyle sector including organic foods, complementary medicines and healthcare. * Environmental Services Companies directly benefiting from increased environmental legislation, including environmental consultancies and providers of safety equipment. * Water Management Water and wastewater services including sewerage and treatment infrastructure; new technology-based solutions such as membranes and UV disinfection. The Company's portfolio has a bias towards small and medium capitalisation companies. It invests primarily in securities which are quoted, listed or traded on a recognised exchange. However, up to 5 per cent. of the Company's Total Assets (at the time of such investment) may be invested in unlisted securities. No such investments have been made to date. Material Events Since 31 March 2008 there have been the following buy-backs under the facility granted to the Board by Shareholders at the last Annual General Meeting: +-------------------------------------------------------------------+ | Date | Amount | Price | Cancellation/Holding in | | | Purchased | Paid (p) | Treasury | |-------------+-----------+----------+------------------------------| | 18 April | 360,000 | 108.5 | Treasury | | 2008 | | | | |-------------+-----------+----------+------------------------------| | 3 July 2008 | 250,000 | 103.5 | Cancellation | |-------------+-----------+----------+------------------------------| | 15 July | 250,000 | 101.25 | Cancellation | | 2008 | | | | |-------------+-----------+----------+------------------------------| | 28 August | 500,000 | 104.75 | Cancellation | | 2008 | | | | |-------------+-----------+----------+------------------------------| | 4 December | 79,990 | 66.00 | Cancellation | | 2008 | | | | |-------------+-----------+----------+------------------------------| | 5 January | 100,000 | 71.00 | Cancellation | | 2009 | | | | +-------------------------------------------------------------------+ The Board is not aware of any other significant events or transactions which have occurred between 31 March 2008 and the date of publication of this interim management statement which would have a material impact on the financial position or the performance of the Company. Availability of Monthly Fact Sheets Monthly fact sheets for the Company are available for download from www.jupiteronline.co.uk and by post or fax on request from the company secretarial department. The Company's Ordinary shares and Warrants are listed on the London Stock Exchange and the prices are published in the Financial Times under `Investment Companies'. The Net Asset Values of the Company's ordinary shares are calculated weekly and can be viewed on the London Stock Exchange website at www.londonstockexchange.com (under the heading 'Market News'). For further information, please contact: Richard Pavry Director of Investment Trusts Jupiter Asset Management Limited rpavry@jupiter-group.co.uk 020 7314 4822 Faith Pengelly Company Secretarial Department Jupiter Asset Management Limited fpengelly@jupiter-group.co.uk 020 7314 4915 The Company's Registered office is at 1 Grosvenor Place, London SW1X 7JJ. This interim management statement has been prepared solely to provide information to meet the requirements of the UK Listing Authority's Disclosure and Transparency Rules. Jupiter Asset Management Limited 18 February 2009 ---END OF MESSAGE--- This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

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