Net Asset Value(s)

MANCHESTER & LONDON INVESTMENT TRUST PLC                    

                          VALUATION AS AT 8 MAY 2012                           

The unaudited fully diluted net asset value per share (including income) was
352.7p as at 8 May 2012.

For enquiries:

Manchester & London Investment Trust Plc - 0161 242 2899

Midas Investment Management Limited - 0161 228 1709