Tender Offer

THE THROGMORTON TRUST PLC(the "Company")                    

Tender Offer to purchase up to 25 per cent. of the Ordinary Shares in issue as 
                              at the Record Date                               

Possible Subsequent Repurchase of up to 14.99 per cent. of the Ordinary Shares 
                          in issue on the Record Date                          

              Cancellation of the Company's share premium account              

          Removal of the obligation to consider regular tender offers          

4 June 2010

Further to the announcement on 7 April 2010, the Board of The Throgmorton Trust
PLC announces that a circular (the "Circular") containing details of the
proposed tender offer ("Tender Offer"), Subsequent Repurchase, cancellation of
share premium account, removal of obligation to consider regular tender offers
and inclusion of the In Specie Distribution Option (the "Proposals") has been
posted to Shareholders today, along with the Form of Proxy, Voting Instruction
Form, Tender Form and Saving Schemes Tender Form, for use at the General
Meeting to be held at 2.00 p.m. on 1 July 2010 at 33 King William Street,
London EC4R 9AS (the "General Meeting").

The Tender Offer will enable Shareholders to tender none, any, or all of their
Ordinary Shares:

(1) for cash at the Tender Price per Cash Exit Share; or

(2) for shares pursuant to the In Specie Distribution Option. This option is
    only available to Shareholders holding at least 5 per cent. of the issued
    Ordinary Share capital of the Company as at close of business on 12 April 2010
    (the "Record Date") (excluding Ordinary Shares held in treasury) (the "
    Qualifying Shareholders"),

subject to a maximum of 25 per cent. of the Ordinary Shares in issue of the
Company on the Record Date (excluding Ordinary Shares held in treasury) with a
9 per cent. exit charge and associated costs.

In addition, following Shareholder approval, the Company may make a subsequent
repurchase of up to 14.99 per cent. of the Ordinary Shares in issue on the
Record Date for cash at the Subsequent Repurchase Price, from any tendering
Shareholders whose Ordinary Shares were validly tendered under the Tender Offer
but which were not accepted by reason of the Tender Offer being oversubscribed
(the "Subsequent Repurchase").

The Directors will also seek shareholder approval to:

 1. remove the obligation of the Board to consider tender offers on a
    twice-yearly basis;
   
 2. cancel the Company's share premium account to provide additional
    distributable reserves which may be required to allow the Company to
    undertake the purchase of Ordinary Shares; and
   
 3. approve the inclusion of the In Specie Distribution Option.
   
Shareholder approval for the Proposals will be sought at the General Meeting by
way of a special resolution, on which all Shareholders may vote, and an
ordinary resolution, on which only Independent Shareholders may vote.

Whilst the Tender Offer is open to all Shareholders who have held their
Ordinary Shares continuously from the Record Date to the Tender Closing Date
(other than Shareholders in a Restricted Territory), the Directors have no
intention of tendering any of their own shares.

A copy of the Circular and the documents referred to in paragraph 7 of Part 6
of the Circular are available for inspection at the offices of Stephenson
Harwood, One St. Paul's Churchyard, London EC4M 8SH and at the UK Listing
Authority's Document Viewing Facility, which is situated at Financial Services
Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS Tel. No. 020
7066 1000.

Defined terms in this announcement have the same meaning as in the Circular.

Expected timetable:

Record date for the Tender Offer         close of business on 12 April 2010    
                                                                               
Latest time and date for receipt of      3.00 p.m. on 21 June 2010             
Savings Schemes Tender Forms                                                           
                                                                               
Latest time and date for receipt of      3.00 p.m. 21 June 2010                
Voting Instruction Forms from 
participants in the Saving Schemes                                                                 
                                                                               
Tender Closing Date: latest time and     1.00 p.m. on 28 June 2010             
date for receipt of Tender Forms and                                           
TTE instructions                                                               
                                                                               
Latest time and date for receipt of      2.00 p.m. on 29 June 2010             
Forms of Proxy for General Meeting                                             
                                                                               
General Meeting                          2.00 p.m. on 1 July 2010              
                                                                               
Results of General Meeting and Tender    2 July 2010                           
Offer announced                                                                
                                                                               
Calculation date                         close of business on 5 July 2010      
                                                                               
Balancing and new Ordinary Share         expected to be by 6 July 2010         
certificates dispatched and CREST 
accounts credited                                                                       
                                                                               
Subsequent Repurchases commence (if      6 July 2010 or as soon as practicable 
necessary)                               thereafter                            
                                                                               
Transfer of portfolio assets to          14 July 2010                          
Qualifying Shareholders that have 
elected for the In Specie 
Distribution Option                                                  
                                                                               
Date of Court hearing to confirm         28 July 2010                          
cancellation of the share premium 
account                                                   
                                                                               
First interim distribution under the     expected to be by 22 July 2010        
Tender Offer announced: cheques                                                
dispatched and payments through 
CREST made                                                
                                                                               
Tender Price per Cash Exit Share         as soon as practicable after General  
announced; final distribution under      Meeting but expected to be by         
Tender Offer of assets                   mid-September 2010                    
in Tender Pool announced; cheques                                              
dispatched and payments through CREST                                          
made                                                                           

Enquiries:

Jonathan Ruck Keene
BlackRock Investment Management (UK) Limited
Telephone: [phone]

Joe Winkley/Gareth Price
Oriel Securities Limited
Telephone: [phone]