Final Results

Rights and Issues Inv Trust PLC
13 February 2007


Chairman's Statement


2006 turned out to be a reasonable year for equity markets. A 13.2% increase in
the FTSE All-Share Index was a far stronger performance than had seemed likely
earlier in the year. Smaller company progress was also very encouraging with the
FTSE Small Cap index rising by 18.2% and FTSE Fledgling index by 17.1%.


The Trust experienced a good finish to the year and shareholders funds rose by
24.4% to another new record of £83.0m with both long standing and more recent
investments contributing. The net asset value of the capital shares increased
from 2928.1p to 3669.8p and that of the income shares from 751.8p to 920.3p.
These rises of 25.3% and 22.4% both substantially exceeded the performance of
the FTSE All-Share Index.


In 2006, the AIM content of the portfolio rose significantly from £3.3m to
£14.8m and now represents 18% of shareholders funds. This warrants some
explanation: There has been no change in your Board's healthy scepticism to AIM
stocks but it does reflect the number of existing investments which have chosen
to step down from a full listing to AIM. The twin forces of the onerous and
expensive nature of the listing obligations and the burden that corporate
governance poses for smaller companies means that this trend is set to continue.


Your Directors have decided to raise the dividend to 43.5p per income share and
2.175p per capital share for 2006. This 7% rise exceeds the rate of inflation.
Additionally, the supplementary capital dividend of 66p per capital share was
paid on 2nd January 2007 and, barring unforeseen circumstances, the
supplementary capital dividend for the current year will be increased by 4% to
68.6829p per capital share payable on 2nd January 2008.


Discretionary Unit Fund Managers again produced record results with pre-tax
profits of £500,000 and funds under management at 31st December were £65m.


During the last ten years the size of the Trust has risen more than four-fold
while the equity market has only seen a 60% increase. The task therefore for the
Trust is to find new investments that will also produce good long-term
performance.

S.H.J.A.Knott
Chairman


Unaudited Balance Sheets                Company                      Group

To 31st December                  2006          2005          2006          2005

                                     £             £             £             £
Non-current assets
Goodwill                             0             0        65,191        65,191
Investments-Fair value
through profit or loss      80,731,783    60,367,907    80,300,311    59,936,435
                             -----------   -----------    ----------   -----------
                            80,731,783    60,367,907    80,365,502    60,001,626
                             -----------   -----------    ----------   -----------

Current assets
Trading investments                  -             -       409,726       514,272
Trade and other
receivables                    216,648       128,377       384,441       572,544
Current tax receivable               -             -             -             -
Amounts due from group
undertakings                   613,038       555,759             -             -
Cash and cash equivalents    1,601,507     5,809,768     2,556,595     6,647,686
                             -----------   -----------    ----------   -----------
                             2,431,193     6,493,904     3,350,762     7,734,502
                             -----------   -----------    ----------   -----------
Total assets                83,162,976    66,861,811    83,716,264    67,736,128
                             -----------   -----------    ----------   -----------

Current liabilities
Trade and other payables        17,616        23,987       600,563       878,416
Current tax payable                  -             -        91,437       140,984
                             -----------   -----------    ----------   -----------
                                17,616        23,987       692,000     1,019,400
                             -----------   -----------    ----------   -----------
                             -----------   -----------    ----------   -----------
Total assets less current
liabilites                  83,145,360    66,837,824    83,024,264    66,716,728
                             -----------   -----------    ----------   -----------
                             -----------   -----------    ----------   -----------
Net assets                  83,145,360    66,837,824    83,024,264    66,716,728
                             -----------   -----------    ----------   -----------

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             41,235,990    39,534,068    41,235,990    39,534,068
Revaluation reserve         38,134,169    23,624,240    38,134,169    23,624,240
Dividend equalisation
reserve                      2,324,875     2,229,190     2,203,779     2,108,094
                             -----------   -----------    ----------   -----------
Total equity                83,145,360    66,837,824    83,024,264    66,716,728
                             ===========   ===========    ==========   ===========

Net asset value per share
Income shares                                                920.3p        751.8p
Capital shares                                              3669.8p       2928.1p
                                                          ==========   ===========


CONSOLIDATED INCOME STATEMENT

For the year ended 30th June 2006

                           Year ended 31st December 2006             Year ended 31st December 2005
     
                          Revenue      Capital         Total      Revenue      Capital         Total
                                £            £             £            £            £             £

Investment
income                 2,008,203             -     2,008,203    1,891,490            -     1,891,490

Other
operating
income                   750,360             -       750,360      859,838            -       859,838
                          --------    ----------     ---------     --------     --------      --------

Total income           2,758,563             -     2,758,563    2,751,328            -     2,751,328

Gains/(Losses)
on fair value
through profit
or loss assets           102,765    16,211,851    16,314,616      125,070    8,408,773     8,533,843
                          --------    ----------     ---------     --------     --------      --------

                       2,861,328    16,211,851    19,073,179    2,876,398    8,408,773    11,285,171
Expenses
Investment management fee                                  -                                       -
Other expenses           514,179             -       514,179      473,730            -       473,730
                          --------    ----------     ---------     --------     --------     ---------

Profit before
tax                    2,347,149    16,211,851    18,559,000    2,402,668    8,408,773    10,811,441

Tax                       91,654             -        91,654      139,964            -       139,964
                          --------    ----------     ---------     --------     --------     ---------
                       2,255,495    16,211,851    18,467,346    2,262,704    8,408,773    10,671,477
                          --------    ----------     ---------     --------     --------     ---------

The total column relates
to the group's income
statement

Earnings per share

Return per
income share
(p)                         45.7p        164.8p        210.5p        52.4p        85.5p        137.9p

Return per
capital share
(p)                         68.3p        741.4p        809.7p        58.7p       384.6p        443.3p



CASH FLOW STATEMENT

For the year ended 31st December 2006
                                                          Company                       Group
                                                   2006           2005           2006           2005

                                                      £              £              £              £
Cashflows from operating activities

Profit before tax                            18,400,346     10,947,216     18,559,000     10,811,441

Adjustments for:
(Gains)/losses on
investments                                 (16,211,851)    (8,408,773)   (16,211,851)    (8,408,773)
Purchases of
investments                                  (7,563,887)   (11,934,175)    (7,563,887)   (11,934,175)
Proceeds on disposal
of investments                                3,411,862      9,852,978      3,411,862      9,852,978
Movement in trading
investments                                           0              0        104,546       (301,988)
                                               ----------     ----------     ----------     ----------
Operating cash flows before movements
in working capital                           (1,963,530)       457,246     (1,700,330)        19,483

Decrease/(increase) in
receivables                                     (78,550)      (368,922)       188,103       (216,262)
Increase/(decrease) in
payables                                         (6,371)         7,569       (277,853)       656,155
                                               ----------     ----------     ----------     ----------
Net cash from operating activities before
income taxes                                 (2,048,451)        95,893     (1,790,080)       459,376

Income taxes paid                                     0              0       (141,201)       (70,560)
                                               ----------     ----------     ----------     ----------
Net cash from
operating activities                         (2,048,451)        95,893     (1,931,281)       388,816
                                               ----------     ----------     ----------     ----------

Cash flows from financing activities

Dividends paid                               (2,159,810)    (1,883,030)    (2,159,810)    (1,883,030)
                                               ----------     ----------     ----------     ----------
                                               ----------     ----------     ----------     ----------
Net cash (used
in)/from financing
activities                                   (2,159,810)    (1,883,030)    (2,159,810)    (1,883,030)
                                               ----------     ----------     ----------     ----------

Net
increase/(decrease) in
cash and cash
equivalents                                  (4,208,261)    (1,787,137)    (4,091,091)    (1,494,214)

Cash and cash
equivalents at
beginning of year                             5,809,768      7,596,905      6,647,686      8,141,900
                                               ----------     ----------     ----------     ----------
                                               ----------     ----------     ----------     ----------
Cash and cash
equivalents at end of
year                                          1,601,507      5,809,768      2,556,595      6,647,686
                                               ----------     ----------     ----------     ----------


The proposed final dividends are payable on 31st March 2007 to shareholders on
the register as at 23rd February 2007 subject to approval by shareholders at the
annual general meeting.

Income Shares                29.50p           (2005: 28.00p)

Capital Shares              2.1750p           (2005: 2.025p)


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


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