Net Asset Value(s)

MANCHESTER & LONDON INVESTMENT TRUST PLC                    

                        VALUATION AS AT 18 OCTOBER 2011                        

The unaudited fully diluted net asset value per share (including income) was
364.5p as at 18 October 2011.

For enquiries:               

Manchester & London Investment Trust Plc - 0161 242 2899

Midas Investment Management Limited - 0161 228 1709