Herald Investment Trust Regulatory News (HRI)

HERALD INVESTMENT TRUST PLC

Net Asset Value as at 28 February 2017

Net Asset Value - including current year income 1129.23p

Net Asset Value - excluding current year income 1130.59p

Fair value NAVs have not been provided as either:

(a) There are no loans outstanding which are used for investment purposes, or

(b) The fair value of such loans are the same as their par value.

Net Asset Values are calculated in accordance with accounting policies and AIC guidelines.

Law Debenture Corporate Services Limited

Company Secretary

1 March 2017