Net Asset Value

MANCHESTER & LONDON INVESTMENT TRUST PLC

VALUATION AS AT 17th JULY 2009

The unaudited fully diluted net asset value per share (including income) as at
17th July 2009 was 321.4p.

For enquiries:

Manchester & London Investment Trust Plc - 0161 242 2899

Midas Investment Management Limited - 0161 228 1709