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TR-1i: NOTIFICATION OF MAJOR INTERESTS IN SHARESi

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

New India Investment Trust PLC

2.     Reason for the notification (please state Yes/No):

An acquisition or disposal of voting rights: Yes

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached: No

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments: No

An event changing the breakdown of voting rights: No

Other: No

3.     Full name of person(s) subject to the notification obligation: iii

City of London Investment Management Company Limited

4.     Full name of shareholder(s) (if different from 3.): iv

n/a

5.     Date of the transaction and date on which the threshold is crossed or reached: v

15 January 2010

6.     Date on which issuer notified:

19 January 2010

7.     Threshold(s) that is/are crossed or reached: vi, vii

16%

8.     Notified details:

A: Voting rights attached to shares viii, ix

Situation previous to the Triggering transaction
Class/type of shares if possible using the ISIN CODE	Number of shares	Number of voting rights
GB0006048770	7,322,232	7,322,232

Resulting situation after the triggering transaction (vii)

Class/type of shares if possible using the ISIN CODE	Number of shares	Number of voting rights		% of voting rightsx
		Direct	Indirect xi	Direct	Indirect
GB0006048770		n/a	7,572,232		16.13%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction 

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

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction 

Type of financial instrument	Exercise price	Expiration Date xvii	Exercise/Conversion Period xviii	Number of voting rights instrument refers to	% of voting rights xix, xx
					Nominal	Delta

Total (A+B+C)

Number of voting rights 7,572,232

% of voting rights 16.13%

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

All Voting Rights on all Shares are controlled by City of London Investment Management Limited

Proxy Voting:

10.     Name of the proxy holder:

City of London Investment Management Company Limited

11.     Number of voting rights proxy holder will cease to hold:

n/a

12.     Date on which proxy holder will cease to hold voting rights:

n/a

13.     Additional information:

n/a

14.     Contact name:

Stuart Reid, Aberdeen Asset Managers Ltd

15.     Contact telephone number:

    0131 528 4134

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