Share buy back authority

Lindsell Train Investment Trust PLC
19 April 2002


At a meeting of the Board of Directors held on 18th April 2002, the Board
resolved to submit to shareholders a proposal for the Company to be authorised
to purchase its own ordinary shares of 25p. The Company will be seeking a
general authority to buy back through the stock market, up to a maximum of
29,999 ordinary shares of 25p each (equivalent to 14.99% of the ordinary shares
in issue at 18 April 2002). It is anticipated that such authority will be
granted at the Annual General Meeting of the Company to be held on 29th May
2002.  The Company cannot fully utilise this authority unless it applies to and
receives confirmation from the High Court allowing the Company to cancel the
share premium account and create a special reserve account to fund any such
re-purchases.


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