Net Asset Value(s)

MANCHESTER & LONDON INVESTMENT TRUST PLC

VALUATION AS AT 4TH JANUARY 2008

The unaudited fully diluted N.A.V. per share as at 4th January 2008 was 400.9p.

For enquiries:

Manchester & London Investment Trust Plc - 0161 242 2899

Midas Investment Management Limited - 0161 228 1709