Rights and Issues Investment Trust P.L.C.

Discount Management Policy

Rights and Issues Investment Trust P.L.C. (the "Company") announces that it has renewed an agreement (the "Buy-Back Agreement") with its broker, Stockdale Securities Limited ("Stockdale"), to repurchase Income shares of 25p each ("Shares") on its behalf and within certain pre-set parameters, until the date of announcement by the Company of its results for the year ending 31 December 2019, expected to be in February 2020 (the "Buy-Back Period").

The Directors of the Company confirm that they are satisfied that all inside information known to the Directors and the Company up to the date of this notice has been notified to a Regulated Information Service ("RIS"). Accordingly, the Company is not prohibited from granting the authority to Stockdale under the Buy-Back Agreement.

The Buy-Back Agreement provides that purchases of Shares during the Buy-Back Period shall be subject to the following overriding restrictions:

(i)               the maximum number of Shares acquired shall not, in aggregate, exceed the authorities granted at the Company's annual general meetings;

(ii)            the maximum value of Shares acquired shall not, in aggregate, exceed £1.0 million per calendar month (and pro rata for part months where the denominator shall be the number of days in the relevant month), although if the value of Shares acquired in any month (or part month) is lower than the maximum value for that month such excess shall be carried forward to the following month and increase the maximum value for the following month, and so on for subsequent months. For the avoidance of doubt there shall be no limit to the number of times an excess and the amount of total excess that can be carried forward;

(iii)         the maximum price paid per Share shall be no more than the higher of: (a) 105% of the average middle market closing prices of the Shares for the 5 dealing days preceding the date of such purchase; and (b) the higher of the last independent trade and the highest current independent bid for the Shares when the purchase is carried out;

(iv)             the price paid per Share shall not be more than 92 per cent. of Stockdale's estimate of the net asset value of the Company at the time of each purchase; and

(v)              no Purchases are to be made on any dealing day when the Company appears on the Disclosure Table published by the Panel on Takeovers and Mergers.

The Buy-Back Agreement also provides that the Company shall not (i) exercise any influence over how, when or whether Stockdale effects the purchases contemplated by the Buy-Back Agreement or (ii) alter or deviate from the Buy-Back Agreement or change the number of Shares, price or timing of the purchases.  The Buy-Back Agreement may only be terminated by Stockdale.

Enquiries:

Robert Finlay/Rose Ramsden 020 7601 6115

Stockdale Securities Limited

George Bayer 01245 398950

Maitland Administration Services Limited