Portfolio Update

4 Feb 2008 12:34

NEW STAR INVESTMENT TRUST PLC

In accordance with UKLA Listing Rule 15.4.11 (2), the following list representsthe Company's 10 largest investments as at 31st January 2008 and, whereappropriate, any investment with a value greater than 5% of the Company's grossassets:INVESTMENT NAME DESCRIPTION NEW STAR EUROPEAN GROWTH FUND OEIC NEW STAR ASSET MANAGEMENT GROUP PLC ORD. SHARES NEW STAR FINANCIALS HEDGE FUND LIMITED SHARES NEW STAR EUROPEAN HEDGE FUND LIMITED SHARES NEW STAR UK ALPHA FUND* OEIC GLOBAL PROPERTY FUND LIMITED* SHARES NEW STAR GLOBAL FINANCIALS FUND* OEIC NEW STAR HIDDEN VALUE FUND OEIC INVESTEC AFRICA FUND* SHARES NEW STAR ACCELERATOR HEDGE FUND LIMITED* SHARES

*Holding greater than 5% of the Company's gross assets.