Net Asset Value(s)

MANCHESTER & LONDON INVESTMENT TRUST PLC                    

                         VALUATION AS AT 10 JULY 2012                          

The unaudited fully diluted net asset value per share (including income) was
343.01p as at 10 July 2012.

For enquiries:               

Manchester & London Investment Trust Plc - 0161 242 2899

Midas Investment Management Limited - 0161 228 1709