Net Asset Value(s)

MANCHESTER & LONDON INVESTMENT TRUST PLC                    

                       VALUATION AS AT 13 SEPTEMBER 2011                       

The unaudited fully diluted net asset value per share (including income) was
360.0p as at 13 September 2011.

For enquiries:

Manchester & London Investment Trust Plc - 0161 242 2899

Midas Investment Management Limited - 0161 228 1709