61KM State Is. 49

RNS No 4937e
INDIA I.T. FUND LIMITED


                             DOCUMENT RE:

                              Placing by

               Credit Lyonnais Securities (Asia) Limited
               and Credit Lyonnais Securities (USA) Inc.

           A Placing of up to 10,000,000 C Shares of US$0.01 each
              at a Subscription Price of US$10.00 per C Share
           (excluding a placing commission of US$0.25 per C Share)
  and, following the end of the Closed Period, a Continuous Offer of Shares of
    US$0.01 each at a price based on Net Asset Value plus an initial charge

                                  Sponsor

                         Credit Lyonnais Securities

                             Investment Manager

                             Unit Trust of India


A copy of the above is available for inspection from the Company
Announcements office of the Stock Exchange, London.

END



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