Witan Investment Trust : Directorate Changes

WITAN INVESTMENT TRUST PLC

29 April 2020

Directorate

The Board of Witan Investment Trust plc (the 'Company') announces the following changes to the Board following the Annual General Meeting held today, 29 April 2020.

As reported in the Annual Report, Harry Henderson has retired from the Board and as Chairman of the Company. Andrew Ross, who was appointed to the Board in May 2019 with the intention that he should replace Mr Henderson as Chairman, has been appointed as Chairman of the Company.

Richard Oldfield has also retired from the Board. His position as Chairman of the Remuneration and Nominations Committee will be taken by Paul Yates, who has been a non-executive director and a member of the Committee since May 2018. Andrew Ross and Suzy Neubert have been appointed as members of the Committee.

All the changes noted above will take effect immediately. The Board wishes to record its thanks to both retiring Directors for their wise counsel and service to shareholders.

In addition, the Board is pleased to announce that Rachel Beagles has been appointed as a non-executive director of the Company with effect from 1 July 2020.

Rachel Beagles is chairman of the Association of Investment Companies and a non-executive director of Aberdeen New India Investment Trust plc and Gresham House plc. During the past five years she has also been chairman of Securities Trust of Scotland plc and a non-executive director of Blackrock Emerging Europe plc, Schroder UK Mid Cap Fund plc and Crown Place VCT plc.

She worked in financial markets, primarily in equity research and sales from 1990 until 2003. She was a managing director and co-head of the pan-European banks equity research and sales team at Deutsche Bank's corporate and investment banking division, following a period as a director of Bankers Trust International. Since 2003, she has worked as a non-executive director in the investment company, asset management, charity and social housing sectors.

There is no information concerning Mrs Beagles which is required to be disclosed pursuant to paragraph 9.6.13 R of the Listing Rules.

In recognition of Mr Henderson's long and highly-valued service to the Company as Chairman and non-executive director, the Board has appointed him as President of the Company. This is an honorary role, which does not confer any responsibilities or remuneration.

- ENDS -

For further information please contact:

Andrew Ross, Chairman

Witan Investment Trust plc

Tel: [phone]