Net Asset Value(s)

MANCHESTER & LONDON INVESTMENT TRUST PLC                    

                         VALUATION AS AT 24 APRIL 2012                         

The unaudited fully diluted net asset value per share (including income) was
364.8p as at 24 April 2012.

The interim dividend of 5.2 pence per share is payable on 30 April 2012 and the
shares are now quoted ex-dividend.

For enquiries:               

Manchester & London Investment Trust Plc - 0161 242
2899                                        

Midas Investment Management Limited - 0161 228
1709