Annual Information Update

PROSPECTUS DIRECTIVE REQUIREMENT TO PROVIDE                  

                           ANNUAL INFORMATION UPDATE                           

This announcement is made in compliance with the requirements of the UK Listing
Authority's rule PR 5.2, which requires an issuer to prepare a document at
least annually that refers to or contains all information that has been
published or made available to the public over the previous 12 months. The
information below relates to the period of 15 March 2011 to 21 March 2012, this
latter date being the date that the Corporation's annual financial statements
were published.

Below is a list of announcements made through the regulatory information
services during the above mentioned period, in compliance with requirements in
the UK Listing Authority rules, the Companies Act 2006 and the Application of
International Accounting Standards. The Corporation has not made any
announcements in connection with requirements under laws and rules of other EEA
states.

Directors' Dealings

A total of five notifications were made about directors' dealings.

Notifications of movements in significant shareholdings (greater than 3%) and 
notification of major interests in shares

Five announcements were made under the Disclosure and Transparency Rules
("DTR") about notifications of major interest in shares.

Purchase of shares by a subsidiary

One announcement was made, on 16 March 2012. The announcement concerned the
acquisition of Law Debenture shares by a subsidiary pursuant to awards made in
accordance with the Corporation's deferred share bonus plan.

Results - Disclosures under DTR 4 (Periodic Financial Reporting)

The following announcements were made:

  * Interim management statement for the first quarter of 2011 (announced 27
    April 2011);
   
  * Half yearly (Interim) report for the first six months of 2011 (announced 22
    July 2011);
   
  * Interim management statement for the third quarter of 2011 (announced 25
    October 2011);
   
  * Annual financial report for 2011 (announced 13 March 2012).
   
As required, separate announcements were made confirming that the periodic
financial reports were available for examination via the National Storage
Mechanism.

Annual General Meeting ("AGM") 2012 - date of AGM and results announcement

An announcement was made on 6 February 2012 notifying the markets of the dates
of the 2012 AGM and the announcement of the results for 2011.

AGM 2012 - documents available for view

An announcement was made on 21 March 2012 confirming that the AGM notice of
meeting, proxy cards and annual report and accounts reports would shortly be
available for examination at the National Storage Mechanism

Results of AGM 2011 - proxies received, resolutions available to view

Immediately after the 2011 AGM, on 12 April, the Corporation announced the
results of its AGM including the numbers of proxy votes received in respect of
each resolution proposed at the AGM and the fact that copies of the special
resolutions approved at the meeting were available for examination at the
National Storage Mechanism.

Annual Information Update

The Corporation's Annual Information Update was published on 7 April 2011.

Total Voting Rights

The Corporation announced changes to its total voting rights figure on 31 May,
30 September, 31 October and 30 December 2011.

Net Asset Value

The Corporation made a weekly announcement (typically each Monday) of its Net
Asset Value as at close of play the preceding Friday.

Monthly Portfolio Information

The Corporation announced within two business days of the end of each month
(UKLA Rule 15.6.8 requires this information to be published only quarterly) a
list of all investments in other listed investment companies and listed
investment trusts which themselves did not have stated investment policies to
invest no more than 15% of the total assets in other listed investment
companies or listed investment trusts (in practice there are none of these),
and the ten largest investments in the portfolio.

Block listing six monthly return

The Corporation submitted block listing notifications in accordance with UK
Listing Authority rules in respect of the Corporation's Executive Share Option
Scheme and the Save As You Earn scheme.

Inside Information

The Corporation confirms that it has made no announcements in the last 12
months containing inside information.

Compliance with the Model Code

As an investment trust, the Corporation is able to take advantage of the
provisions of Listing Rule 15.5.1 (4), which permits dealing in shares during a
close period so long as an announcement is made that all inside information
which the directors and the Corporation may have had has previously been
disclosed. Such announcements were made on 1 July 2011 and 5 January 2012.

Portfolio Management Agreement

On 27 June 2011, an announcement was made confirming that the Corporation had
executed a Supplemental Agreement to its Management Agreement with Henderson
Global Investors Limited ("Henderson") amending, with retrospective effect from
1 April 2011, the fee basis by which the Corporation pays Henderson to manage
its investment portfolio, and reducing the notice period required by either
party to terminate the Management Agreement from 12 months to six months.

Appointment of a new director

On 21 February 2012, the Corporation announced that the Hon. Robert Laing had
been appointed as a non-executive director of the Corporation, the appointment
to be effective from 2 April 2012.

Copies of all of the above announcements can be obtained from the Company
Secretary, The Law Debenture Corporation p.l.c., Fifth Floor, 100 Wood Street,
London, EC2V 7EX (telephone [phone]).

A copy of this Annual Information Update has been filed with the National
Storage Mechanism.

3 April 2012

                     The Law Debenture Corporation p.l.c.