Interim Management Statement

RNS Number : 2426F

Mid Wynd Inter Inv Trust PLC

07 October 2008

MID WYND INTERNATIONAL INVESTMENT TRUST PLC

Interim Management Statement - 3 months to 30 September 2008

Mid Wynd seeks to meet its objective of achieving capital and income growth through investment principally in a portfolio of international quoted equities. The proportion of the portfolio invested in UK companies will not normally exceed 25%. Investments are selected for their inclusion within the portfolio solely on the basis of the strength of the investment case.

Review of the Period

	Over the period, the Company's net asset value fell by 14.0% compared to a fall in the benchmark of 5.9% while the share price fell by 9.9%. All figures are total return.
	The final dividend of 8.50p per share and special dividend of 2.30p per share will, if approved at the AGM to be held on 13 October 2008, be paid on 16 October 2008.

Geographical Analysis of Total Assets			Top Ten Equity Holdings
Region	% of total assets at 30/09/08	% of total assets at 30/06/08	Name	% of total assets at 30/09/08	% of total assets at 30/06/08
			Baillie Gifford Developed Asia Pacific Fund	5.8	6.0
Continental Europe	31.0	29.3	Baillie Gifford Japanese
North America	20.9	17.7	Smaller Companies Fund	3.6	3.4
United Kingdom	14.7	13.9	Schlumberger	3.1	3.3
Emerging Markets	11.7	13.1	Seadrill	2.8	2.7
Japan	3.6	3.4	Kone	2.2	1.7
Asia Pacific	5.8	6.0	Nestlé	1.9	1.5
Fixed Interest	9.8	7.8	Atlas Copco	1.7	1.7
Net Liquid Assets	2.5	8.8	Essilor	1.7	1.6
			Pepsico	1.5	1.0
			Petrobras	1.5	1.8


Total	100.0	100.0	Total	25.8	24.7

Total Return Performance

	%
	3 Months	1 Year	3 Years	5 Years
Share Price	-9.9	-11.9	10.2	63.6
NAV (Par)	-14.0	-15.9	3.5	46.1
Comparative Index	-5.9	-15.1	5.0	40.7

Source: Fundamental Data Ltd.

Comparative Index is the FTSE World Index (in sterling terms) with net income reinvested.

Past performance is not a guide to future performance

General Information
	30/09/08	30/06/08
Total assets (before deduction of bank loan)	£43.4m	£51.4m
Bank loan	£1.6m	£1.4m
Equity shareholders' funds	£41.8m	£50.0m

Net asset value per ordinary share (after deducting borrowings at fair value)	832.1p	994.4p
Share price	732.0p	824.0p

Discount (after deducting borrowings at fair value)	12.0%	17.1%

Potential gearing (after deducting borrowings at fair value)	3.8%	2.8%
Gearing less cash and fixed interest (after deducting borrowings at fair value)	(10.9%)	(13.8%)