Statement re Final Exercise of Subscription Shares

3 November 2011

                           The Throgmorton Trust PLC                           

                     Final exercise of Subscription Shares                     

Further to the announcement of 1 November 2011, The Throgmorton Trust PLC (the
"Company") has issued subject to listing, 4,773,468 ordinary shares following 
the exercise of conversion rights by holders of subscription shares. The Company 
has also received notice from the trustee, appointed by the Company in accordance 
with the terms and conditions of the Subscription shares, that it has exercised 
the outstanding 2,143,121 Subscription Shares relating to those shares that were
unexercised (the "Exercise").

As a result, 2,143,121 ordinary shares arising from the Exercise have been sold
in the market at a price of 158.5 pence per ordinary share. In accordance with
the terms and conditions of the Subscription Shares, arrangements will be made
for the holders of Subscription shares (on whose behalf the trustee has
exercised rights and sold the resulting ordinary shares) to receive the net
proceeds of the sale, after deduction of costs, over the subscription price of
146 pence, by no later than the end of December 2011. Any aggregate
entitlements of less than £5.00 will be retained for the benefit of the
Company.

Application has been made to the UK Listing Authority and to the London Stock
Exchange for a total of 6,916,589 new ordinary shares to be admitted to the
Official List and to trading on the London Stock Exchange ("Admission").
Admission of the new ordinary shares is expected to occur on 8 November 2011.

In conformity with the Disclosure and Transparency Rules provision 5.6.1, the
Company would like to notify the market that following admission, its issued 
share capital will consist of 73,130,326 Ordinary Shares of 5 pence each 
(excluding treasury shares), carrying one vote per share. The Company also holds 
7,400,000 ordinary shares in treasury.

Shareholders should use 73,130,326 as the denominator for the calculations by
which they will determine if they are required to notify their interest in, or
a change to their interest in the Company under the Rules.

Enquiries:

BlackRock Investment Management (UK) Limited
Kerry Higgins [phone]

Oriel Securities
Joe Winkley [phone]
Gareth Price