Net Asset Value(s)

MANCHESTER & LONDON INVESTMENT TRUST PLC                    

                        VALUATION AS AT 23 AUGUST 2011                         

The unaudited fully diluted net asset value per share (including income) was
358.2p as at 23 August 2011.

For enquiries:

Manchester & London Investment Trust Plc - 0161 242 2899

Midas Investment Management Limited - 0161 228 1709