Statement re Subscription Shares

Subscription Shares

Conversion of shares held in Certificated form

Shareholders who hold their shares in Certificated form wishing to exercise
their Throgmorton Trust PLC Subscription Share Rights, should refer to the
instructions on the reverse of their Subscription Share Certificate(s).
Shareholders must lodge the relevant Subscription Share certificate(s) at the
office of the Company's Registrar, Capita Registrars, Corporate Actions, The
Registry, 34 Beckenham Road, Beckenham, Kent BR3 4TU during the period of 30
days ending on the business day prior to the relevant Subscription Date, (29
January 2010, being the last business day prior to 31 January 2010), having
completed the notice of exercise, and a remittance for the aggregate
Subscription Price for the Ordinary Shares in respect of which the Subscription
Rights are being exercised.

Ordinary Shares issued pursuant to the exercise of Subscription Share rights
which are conferred by any Certificated Subscription Shares will be allotted
within ten business days of the first Business Day of the calendar month
following the month in which the relevant notice of exercise of Subscription
Share Rights is given.

Conversion through CREST

Shareholders who hold their Throgmorton Trust PLC Subscription Shares in
Uncertificated form, should use the following participation and member account
IDs when processing their Uncertificated Subscription Notice:

CREST Participant ID = RA06
CREST Member Account ID = THROSUB

The form of Uncertificated Subscription Notice is an Unmatched Stock Event
("USE") instruction which should be input to settle by 3pm on the Business Day
prior to the relevant Subscription Date (29 January 2010, being the last
business day prior to 31 January 2010), along with a remittance for the
aggregate Subscription Price for the Ordinary Shares in respect of which the
Subscription Share Rights are being exercised.

Ordinary Shares issued pursuant to the exercise of Subscription Share rights
which are conferred by any Uncertificated Subscription Shares will be allotted
within ten business days of the first Business Day of the calendar month
following the month in which the relevant notice of exercise of Subscription
Share Rights is given.

Conversion through the BlackRock Stocks & shares ISA or Share Plan

Investors holding shares through the BlackRock Stocks and Shares ISA or Share
Plan wishing to exercise their Subscription Share Rights in The Throgmorton
Trust PLC should download the Savings Plan Subscription Shares Conversion Form
or Stocks & Shares ISA Subscription Shares Conversion Form which will shortly
be available from www.blackrock.co.uk/its, complete and return it to the
address given at the top of the form. Forms must be received at least seven
business days before the Subscription Date. Shares arising from the conversion
will be issued within ten business days of 1 February 2010.

Market Values

The middle market quotation of the ordinary shares and of the subscription
shares in The Throgmorton Trust PLC, as derived from the Stock Exchange Daily
Official List, on the first dealing day in each of the three months before the
date of this announcement, including 4 January 2010, which is also the latest
practicable date before the date of this announcement, were:

                   Ordinary Shares   Subscription Shares 
                                                        
2 November 2009    116.75p           4.50p                
1 December 2009    114.25p           8.00p                
4 January 2010     119.50p           7.625p

Exercise dates

The subscription share rights conferred by the Subscription Shares will be
exercisable on each of 31 January, 30 April, 31 July and 31 October between 31
January 2010 and 31 October 2011 (both dates inclusive).

Exercise price

146 pence per share

Contact:
Mrs K V Higgins
Company Secretary
BlackRock Investment Management (UK) Limited

Date: 5 January 2010