TR-1 (i) NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which
voting rights are attached (ii):

The New Zealand Investment Trust plc

2. Reason for the notification                                        State    
                                                                     Yes/No    
                                                                               
An acquisition or disposal of voting rights                            Yes     
                                                                               
An acquisition or disposal of financial instruments which may                  
result in the                                                                  
acquisition of shares already issued to which voting rights are                
attached                                                                       
                                                                               
An event changing the breakdown of voting rights                               
                                                                               
Other (please specify):                                                        

3. Full name of person(s) subject to the notification obligation   Funds under 
(iii):                                                                 the     
                                                                  discretionary
                                                                  management of
                                                                      Laxey    
                                                                    Partners   
                                                                     Limited   
                                                                               
4. Full name of shareholder(s) (if different from 3.) (iv):       Credit Suisse
                                                                   Securities  
                                                                  (Europe) LTD 
                                                                      Prime    
                                                                    Brokerage  
                                                                   Clients and 
                                                                  Credit Suisse
                                                                   Securities  
                                                                    (USA) LLC  
                                                                               
5. Date of the transaction (and date on which the threshold is     22 January  
crossed                                                               2008     
or reached if different) (v):                                                  
                                                                               
6. Date on which issuer notified:                                  23 January  
                                                                      2008     
                                                                               
7. Threshold(s) that is/are crossed or reached:                     Change in  
                                                                   percentage  
                                                                      point    
                                                                               
8. Notified details:                                               Notified as 
                                                                   10.61% on 1 
                                                                    May 2007   

A: Voting rights attached to shares

 Class/type of  Situation previous   Resulting situation after the triggering   
    shares              to                       transaction (vii)              
  if possible     the Triggering                                                
using the ISIN   transaction (vi)                                               
     CODE                                                                       
                                                                                
                 Number    Number   Number    Number of voting    % of voting   
                   of        of       of        rights (ix)          rights     
                 Shares    Voting   shares                                      
                           Rights                                               
                           (viii)                                               
                                                                                
                                    Direct    Direct   Indirect Direct  Indirect
                                                (x)      (xi)                   
                                                                                
 GB0006348741   1,031,349  10.61%  1,224,843 1,224,843          12.73%          
                                                                                

B: Financial Instruments

Resulting situation after the triggering transaction (xii)

   Type of     Expiration       Exercise/        Number of voting       % of   
  financial    date (xiii)      Conversion      rights that may be     voting  
 instrument                 Period/ Date (xiv)    acquired if the      rights  
                                                    instrument                 
                                                   is exercised/               
                                                     converted                 
                                                                               

Total (A+B)                                                                    
                                                                               
Number of voting rights                 % of voting rights                     
                                                                               
1,224,843 shares                        12.73%                                 

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are
effectively held, if applicable (xv):



Proxy Voting:


10. Name of the proxy holder:                                                  
                                                                               
11. Number of voting rights proxy holder will cease to hold:                   
                                                                               
12. Date on which proxy holder will cease to hold voting                       
rights:                                                                        

13. Additional information:                                                    
                                                                               
14. Contact name:                                                              
                                                                               
15. Contact telephone number:                                                  

Annex Notification Of Major Interests In Shares (xvi)


A: Identity of the person or legal entity subject to the                       
notification obligation                                                        
                                                                               
Full name (including legal form for legal entities)           Laxey Partners   
                                                              Limited          
                                                                               
Contact address (registered office for legal entities)        The Old Chapel,  
                                                              Summerhill Road, 
                                                              Onchan, Isle of  
                                                              Man, IM3 1NA     
                                                                               
Phone number                                                  +44 (0) 1624     
                                                              690900           
                                                                               
Other useful information (at least legal representative for                    
legal persons)                                                                 
                                                                               
B: Identity of the notifier, if applicable (xvii)             AS ABOVE         
                                                                               
Full name                                                                      
                                                                               
Contact address                                                                
                                                                               
Phone number                                                                   
                                                                               
Other useful information (e.g. functional relationship with                    
the person                                                                     
or legal entity subject to the notification obligation)                        

C: Additional information




END


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