Proposals to offer 100% cash exit and roll-over

    For immediate release

                          EAGLET INVESTMENT TRUST PLC                          

                Proposals to offer 100% cash exit and roll-over                

On 21 November 2007 the Board of Eaglet, with the exception of Lady Judge,
wrote to shareholders to inform them of its views on the requisition of
resolutions to appoint Jonathan Carr, Nicholas Jeffrey and Garth Milne (the
"Proposed Directors") at the forthcoming Annual General Meeting to be held on
11 December 2007 and to explain the context in which those resolutions have
been made by a group of shareholders which controls 38.71% of the shares of
Eaglet ("the Requisitioning Shareholders").

Lady Judge, the Chairman of the Board of Eaglet, also sits on the Board of
Private Equity Investor Plc, in which funds controlled by Laxey Partners
Limited ("Laxey") hold a 27.27 per cent. shareholding. Colin Kingsnorth, fund
manager and director of Laxey, together with another director nominated by
Laxey, sits on the board of Private Equity Investor Plc. For this reason, Lady
Judge has not taken part in the Board's recent deliberations and references to
the Board in the remainder of this announcement do not include Lady Judge.

The Board informed Shareholders that it intends to put to them, as soon as
practicable, liquidation proposals that will allow all Shareholders the
opportunity to realise their entire investment in the Company at as close as
practicable to net asset value.

In addition, for Shareholders who wish to remain invested in the small company
sector and/or wish to avoid crystallising a capital gains tax liability, the
Board intends that its proposals will provide one or more "roll-over" options
into funds with proven management expertise, and a record of successful
performance with a similar investment strategy to Eaglet.

The Board has now selected a proposed "roll-over" option for Eaglet's
Shareholders as part of these liquidation proposals.

Gartmore Growth Opportunities plc ("GGO")

The Board is pleased to announce the selection of GGO as a rollover vehicle
that will be offered to Shareholders upon the liquidation of the Company. The
Board has chosen GGO for reasons which include:

  * it offers Shareholders the opportunity to continue to invest in a listed
    vehicle that invests in the "micro-cap", as well as the "small-cap",
    sector;
   
  * it has a strong performance track record and history of active share price
    discount management which has resulted in GGO's shares trading at a narrow
    discount in the market;
   
  * in respect of those Shareholders who choose to rollover their investment
    into GGO, GGO will accept an in specie transfer of Eaglet's investments
    (subject to the stocks received being consistent with GGO's investment
    policy and the approval of GGO's investment manager). This is intended to
    allow those Shareholders who opt to rollover their investment to mitigate
    any liquidation discount on a disposal and reinvestment of proceeds; and
   
  * Gartmore Investment Limited, GGO's investment manager, will contribute to
    the costs of the proposals through waiving its management fees for one year
    for those investors who roll-over into GGO .
   
The Board currently intends that the GGO proposal will, subject to agreement of
the final terms of the proposal with GGO, be placed before shareholders as part
of the Board's proposals to liquidate Eaglet at an Extraordinary General
Meeting ("EGM") of the Company. Notice to convene the EGM will be sent to
Shareholders as soon as practicable after the Annual General Meeting on 11
December 2007.

Unicorn Asset Management Limited ("Unicorn")

In its letter of 21 November, the Board stated that it was not yet in
possession of proposals from Unicorn that were in a form that could be put to
shareholders, but that it remained open to revised proposals. The Board
recognises that some Shareholders may wish to continue to invest in a vehicle
that is managed by Unicorn. Accordingly, the Board continues to progress
discussions with Unicorn and to remain open to revised proposals that it can
put to shareholders alongside those from Gartmore Growth Opportunities at the
EGM.

Advice of the Board

The Board believes that, as currently constituted, it is well positioned to
take into account the interests of all Shareholders and to bring to fruition
the proposals described above. The Board, therefore, believes that it is not
necessary to appoint new directors at this time. Accordingly, your Board
reiterates its recommendation that Shareholders vote against the resolutions to
appoint the Proposed Directors and for the resolutions to elect your incumbent
directors.

Enquiries:

David Keep                                          Tel: +44 (0) 1392 477 651
                                                                             
Capita Sinclair Henderson Limited                                            
                                                                             
Tom Wyatt                                           Tel: +44 (0) 207 758 2800
                                                                             
ReputationInc                                                                



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