RNS Number:7944C
Amerindo Internet Fund PLC
11 May 2006

Amerindo Internet Fund plc



11 May 2006



Further issue and redemption of B Shares



Under the authority granted to it at the Company's Extraordinary General Meeting
on 11 January 2006, the Company announces a further issue and redemption of B
Shares.  For every A Ordinary Share held on the close of business on 19 May
2006, shareholders will receive 3 Redeemable B Shares.  On the same day these
shares will be automatically redeemed by the Company at a redemption price of 1
pence per B Share, representing in aggregate approximately #4.215 million.  It
is expected that cheques will be sent or CREST accounts will be credited with
the proceeds on or around 25 May 2006.



The Company will announce a revised NAV as soon as practicable after the above
issue and redemption of B Shares.



The Company also expects to send a circular to shareholders in respect of
convening an Extraordinary General Meeting to de-list and wind up the Company
later this month.



Enquiries:

Duncan Hayes - Phoenix Administration Services Limited

Company Secretarial Division

01245 398 950




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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