Net Asset Value(s)

MANCHESTER & LONDON INVESTMENT TRUST PLC

VALUATION AS AT 24TH DECEMBER 2008

The unaudited fully diluted N.A.V. per share (Including Income) as at 24th
December 2008 was 296.8p.

For enquiries:

Manchester & London Investment Trust Plc - 0161 242 2899

Midas Investment Management Limited - 0161 228 1709