Net Asset Value(s)

MANCHESTER & LONDON INVESTMENT TRUST PLC                    

                       VALUATION AS AT 13 DECEMBER 2011                        

The unaudited fully diluted net asset value per share (including income) was
353.8p as at 13 December 2011.

For enquiries:               

Manchester & London Investment Trust Plc - 0161 242
2899                                        

Midas Investment Management Limited - 0161 228 1709