Final Results

Rights and Issues Inv Trust PLC
18 February 2008



CHAIRMAN'S STATEMENT


There was a profound change in investor sentiment during 2007. The banking
crisis that developed in the summer has increasingly impacted on the domestic
and international economies. After the benign conditions of the first eight
months, UK smaller companies suffered disproportionately underperforming the
FTSE All-Share index by over 10% in the months of September through to December.
The overall effect for the year was that while the FTSE All-Share recorded a
2.0% rise, the FTSE Small Cap index fell by 12.4% and the FTSE Fledgling index
also fell by 8.4%.

The market fall has not distinguished between good and bad investments and all
have fallen. This has impacted on the Trust's performance for the year and the
net asset value of the capital shares decreased from 3669.8p to 3342.1p and that
of the income shares from 920.3p to 851.4p. These falls of 8.9% and 7.5% are
consistent with the poor performance of UK smaller company indices and represent
a very disappointing year.

Your Directors have decided to raise the dividend to 46p per income share and
2.3p per capital share. The 6% rise again exceeds the rate of inflation.
Additionally, the supplementary capital dividend of 68.6829p per capital share
was paid on 2nd January, 2008 and, barring unforeseen circumstances, will be
maintained at 68.6829p per capital share payable on 2nd January, 2009.

Discretionary Unit Fund Managers sustained pre-tax profits at over £500,000.
However as a result of the deterioration in the UK smaller company arena,
profits will be substantially reduced in 2008.

The transition from easy credit to tight credit conditions is a very painful
process with inevitable casualties. It is still too early to judge the
significance of the current economic slowdown. So far in 2008 the equity market
has suffered a further decline followed by severe volatility. The silver lining
amongst all this economic gloom is that for the first time in some years there
is now reasonable value in equity valuations.


S.H.J.A.Knott

Chairman




Unaudited Balance Sheets             Company                      Group
To 31st December 2007             2007          2006          2007          2006

                                     £                           £
Non-current assets
Goodwill                             0             0        65,191        65,191
Investments-Fair value
through profit or loss      72,359,805    80,731,783    71,928,333    80,300,311
                             -----------   -----------    ----------   -----------
                            72,359,805    80,731,783    71,993,524    80,365,502
                             -----------   -----------    ----------   -----------

Current assets
Trading investments                  -             -       619,797       409,726
Trade and other
receivables                    232,114       216,648       313,080       384,441
Current tax receivable               -             -             -             -
Amounts due from group
undertakings                   692,166       613,038             -             -
Cash and cash equivalents    2,835,625     1,601,507     3,692,284     2,556,595
                             -----------   -----------    ----------   -----------
                             3,759,905     2,431,193     4,625,161     3,350,762
                             -----------   -----------    ----------   -----------
Total assets                76,119,710    83,162,976    76,618,685    83,716,264
                             -----------   -----------    ----------   -----------

Current liabilities
Trade and other payables        43,672        17,616       576,930       600,563
Current tax payable                  -             -        86,813        91,437
                             -----------   -----------    ----------   -----------
                                43,672        17,616       663,743       692,000
                             -----------   -----------    ----------   -----------
                             -----------   -----------    ----------   -----------
Total assets less current
liabilites                  76,076,038    83,145,360    75,954,942    83,024,264
                             -----------   -----------    ----------   -----------
                             -----------   -----------    ----------   -----------
Net assets                  76,076,038    83,145,360    75,954,942    83,024,264
                             -----------   -----------    ----------   -----------

Equity
Called up share capital      1,225,000     1,225,000     1,225,000     1,225,000
Share premium account          225,326       225,326       225,326       225,326
Retained reserves:
Capital reserve             40,668,355    41,235,990    40,668,355    41,235,990
Revaluation reserve         31,530,078    38,134,169    31,530,078    38,134,169
Dividend equalisation
reserve                      2,427,279     2,324,875     2,306,183     2,203,779
                             -----------   -----------    ----------   -----------
Total equity                76,076,038    83,145,360    75,954,942    83,024,264
                             ===========   ===========    ==========   ===========

Net asset value per share
Income shares                                                851.4p        920.3p
Capital shares                                              3342.1p       3669.8p
                                                          ==========   ===========



CONSOLIDATED INCOME STATEMENT
For the year ended 30th June 2007

                           Year ended 31st December 2007            Year ended 31st December 2006
                             Revenue       Capital          Total     Revenue       Capital          Total
                                    £             £             £            £             £             £

Investment
income                      2,148,467             -     2,148,467    2,008,203             -     2,008,203

Other
operating
income                        902,022             -       902,022      750,360             -       750,360
                              ---------     ---------     ---------    ---------     ---------     ---------

Total income                3,050,489             -     3,050,489    2,758,563             -     2,758,563

Gains/(Losses)
on fair value
through profit
or loss assets                (48,570)   (7,171,726)   (7,220,296)     102,765    16,211,851    16,314,616
                              ---------     ---------     ---------    ---------     ---------     ---------
                            3,001,919    (7,171,726)   (4,169,807)   2,861,328    16,211,851    19,073,179

Expenses
Investment management fee           -             -             -
Other expenses                533,232             -       533,232      514,179             -       514,179
                              ---------     ---------     ---------    ---------     ---------     ---------
                              533,232             -       533,232
Profit before
tax                         2,468,687    (7,171,726)   (4,703,039)   2,347,149    16,211,851    18,559,000

Tax                            86,213             -        86,213       91,654             -        91,654
                              ---------     ---------     ---------    ---------     ---------     ---------
(Loss)/Profit
for the period              2,382,474    (7,171,726)   (4,789,252)   2,255,495    16,211,851    18,467,346
                              ---------     ---------     ---------    ---------     ---------     ---------

The total column relates
to the group's income
statement

Earnings per share

Return per
income share
(p)                              48.9p        (72.9)p       (24.0)p       45.7p        164.8p        210.5p
Return per
capital share
(p)                              71.1p       (328.0)p      (256.9)p       68.3p        741.4p        809.7p



CASH FLOW STATEMENT
For the year ended 31st December 2007
                                                                Company                        Group
                                                  2007           2006          2007           2006

                                                     £              £             £              £
Cashflows from operating activities

(Loss)/Profit before
tax                                         (4,859,252)    18,400,346    (4,703,039)    18,559,000

Adjustments for:
Losses/(Gains) on
investments                                  7,171,726    (16,211,851)    7,171,726    (16,211,851)
Purchases of
investments                                 (2,255,669)    (7,563,887)   (2,255,669)    (7,563,887)
Proceeds on disposal
of investments                               3,455,921      3,411,862     3,455,921      3,411,862
Movement in trading
investments                                          0              0      (210,071)       104,546
                                                --------     ----------     ---------      ---------
Operating cash flows before movements
in working capital                           3,512,726     (1,963,530)    3,458,868     (1,700,330)

Decrease/(increase) in
receivables                                    (91,594)       (78,550)       71,361        188,103
Increase/(decrease) in
payables                                        26,056         (6,371)      (23,633)      (277,853)
                                                --------     ----------     ---------      ---------
Net cash from operating activities before
income taxes                                 3,447,188     (2,048,451)    3,506,596     (1,790,080)

Income taxes paid                               67,000              0       (90,837)      (141,201)
                                                --------     ----------     ---------      ---------
Net cash from
operating activities                         3,514,188     (2,048,451)    3,415,759     (1,931,281)
                                                --------     ----------     ---------      ---------

Cash flows from financing activities

Dividends paid                              (2,280,070)    (2,159,810)   (2,280,070)    (2,159,810)
                                                --------     ----------     ---------      ---------
                                                --------     ----------     ---------      ---------
Net cash (used
in)/from financing
activities                                  (2,280,070)    (2,159,810)   (2,280,070)    (2,159,810)
                                                --------     ----------     ---------      ---------

Net
increase/(decrease) in
cash and cash
equivalents                                  1,234,118     (4,208,261)    1,135,689     (4,091,091)

Cash and cash
equivalents at
beginning of year                            1,601,507      5,809,768     2,556,595      6,647,686
                                                --------     ----------     ---------      ---------
                                                --------     ----------     ---------      ---------
Cash and cash
equivalents at end of
year                                         2,835,625      1,601,507     3,692,284      2,556,595
                                                --------     ----------     ---------      ---------



The proposed final dividends are payable on 31st March 2008 to shareholders on
the register as at 29th February 2008 subject to approval by shareholders at the
annual general meeting.


Income Shares 30.50p (2006: 29.50p)

Capital Shares 2.3000p (2006: 2.175p)


The above release and full audited accounts will be available at the Registered
office.



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