Net Asset Value(s)

MANCHESTER & LONDON INVESTMENT TRUST PLC                    

                         VALUATION AS AT 24 JULY 2012                          

The unaudited fully diluted net asset value per share (including income) was
334.1 pence as at 24 July 2012. 

For enquiries:

Manchester & London Investment Trust Plc - 0161 242 2899

Midas Investment Management Limited - 0161 228 1709