Result of EGM

    Eaglet Investment Trust plc ("Eaglet" or the "Company")            

                                 EGM Statement                                 

On 27 October 2008, the Company announced that it had published a Circular to
Shareholders outlining, inter alia, the proposed Tender Offer by Arbuthnot
Securities Limited on behalf of the Company for up to 49 per cent. of the
issued share capital, a change of investment policy, the sale of a proportion
of the Portfolio Companies, the Off-Market Purchase of Shares and the
cancellation of the Company's share premium account. The Circular also set out
the terms of a New Investment Management Agreement, Management Warrants Deed,
and Investment Advisory Agreement.

The Company announces that the results of the voting by poll on each of the
Resolutions proposed at today's EGM were as follows:

Resolution   Votes in        %          Votes          %         Withheld  
             favour*                   against                   votes**   
                                                                           
         1   11,941,121        77.68    3,431,678        22.32      292,455
                                                                           
         2    9,016,875        67.64    4,314,641        32.36    2,333,738
                                                                           
         3   11,945,996        77.69    3,430,489        22.31      288,769
                                                                           
         4   11,006,176        71.60    4,366,211        28.40      292,867
                                                                           
         5   11,052,910        71.93    4,314,233        28.07      298,111
                                                                           
         6   11,949,767        77.77    3,415,773        22.23      299,714
                                                                           
         7    9,012,838        67.68    4,304,641        32.32    2,337,775
                                                                           
         8   11,049,898        71.92    4,314,908        28.08      300,448
                                                                           
         9   11,045,676        71.91    4,315,097        28.09      304,481
                                                                           
        10   11,043,259        71.90    4,315,865        28.10      306,130
                                                                           
        11   11,047,155        71.91    4,315,151        28.09      302,948
                                                                           
        12    1,844,305        26.70    5,063,133        73.30    8,757,816

* The "in favour" votes include those votes giving the Chairman discretion

** The "withheld" votes are not counted towards the votes cast

A majority of votes cast were in favour of Resolutions 1 to 11 (inclusive),
although the required 75% majority was not obtained in respect of Resolutions
2, 4 and 5. Furthermore, Resolution 12 (dispensation of provisions under Rule 9
of the City Code) was not passed and since the Resolutions were
inter-conditional, the Proposals set out in the Circular will not be
implemented.

In light of the result of the EGM, it is clear to the Board that the Company is
unable to proceed with the Tender Offer and all other proposals in their
current form. The Board will consult with Shareholders with a view to
formulating alternative proposals which seek to balance the views and interests
expressed. A further announcement will therefore be made in due course.

Enquiries:                                                                     
                                                                               
Steve Winrow                            01624 623994                           
                                                                               
Knox D'Arcy Asset Management Ltd                                               
                                                                               
Alastair Moreton                        020 7012 2000                          
                                                                               
Hannah Pearce                                                                  
                                                                               
Arbuthnot Securities Limited                                                   

Capitalised terms used in this announcement will have the same meaning as in
the circular dated 27 October 2008 unless the context requires otherwise.

Arbuthnot Securities Limited, which is regulated by the Financial Services
Authority, is acting for Eaglet Investment Trust plc and no-one else and will
not be responsible to any person for providing the protections afforded to its
customers nor for providing advice in relation to the Proposals nor any other
matter referred to in this announcement.




END