NZL New Zealand It

    FOR IMMEDIATE RELEASE

The New Zealand Investment Trust plc ("the Company")

22 February 2008

Further re Proposals for the voluntary winding-up and reconstruction of the
Company

Result of First General Meeting

Further to the proposals for the voluntary winding-up and reconstruction of the
Company which were announced on 24 January 2008, all of the resolutions were
passed at the First General Meeting of the Company held today. Accordingly, the
Company's Shares have been reclassified as Reclassified Shares.

Based on the Forms of Election received by the Company, 258,549 Shares will be
reclassified as Reclassified Shares with A rights and will therefore receive CF
iimia Growth and Income Fund Shares, 2,257,956 Shares will be reclassified as
Reclassified Shares with B rights and will therefore receive Brook Tasman Fund
Units and 7,107,190 Shares will be reclassified as Reclassified Shares with C
rights and will therefore receive cash.

The Calculation Date when respective entitlements will be calculated is 5.00 pm
on 28 February 2008 and the Second General Meeting (or if the Scheme does not
become unconditional then, the Third General Meeting) will take place on 29
February 2008. A further announcement will be made following these meetings.

If the Scheme becomes unconditional, contract notes for CF iimia Growth and
Income Fund Shares will be despatched on 3 March 2008, transaction statements
for Brook Tasman Fund Units will be despatched in the week beginning 3 March
2008 and, for Shareholders who elected or are deemed to have elected for the
Cash Option, cheques will be despatched in the week beginning 10 March 2008.

Terms used in this announcement shall have the same meaning as in the Circular
dated 24 January 2008.

Enquiries:

Landsbanki Securities (UK) Limited

Paul Fincham/Jonathan Becher

+44 (0)20 7426 9000

First NZ Capital Securities Limited

Peter Irwin

+64 4 496 5316

Note: This announcement is made by the Company in compliance with its
objectives as a company whose shares are listed on both the Official List of
the UK Listing Authority and on the New Zealand Stock Exchange. This
announcement, which is not made by or on behalf of Brook or iimia, does not
contain or constitute an offer of securities in any of the investment vehicles
referred to in this announcement and does not contain or comprise any
recommendation, opinion or guidance to shareholders in relation to acquiring or
subscribing for, or agreeing to acquire or subscribe for, any of those
securities.





END

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