Closed Period Confirmation

THE INDEPENDENT INVESTMENT TRUST PLC

 ("The Company")

Closed Period Confirmation

The Directors of the Company confirm that they are satisfied that all inside information which the Directors and the Company have leading up to the announcement of the results for the year ended 30 November 2017 has been notified to a Regulated Information Service.

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Baillie Gifford & Co

Company Secretaries

 1 December 2017

Legal Entity Identifier: 213800IYHGJTZJ3MO642

Regulated Information Classification: Additional regulated information required to be disclosed under the laws of a Member State of the EU