Net Asset Value(s)

MANCHESTER & LONDON INVESTMENT TRUST PLC

VALUATION AS AT 16 APRIL 2013

The unaudited fully diluted net asset value per share (including income) was
365.1p as at 16 April 2013.

The interim dividend of 5.5 pence per share is payable on 29 April 2013 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