Net Asset Value

MANCHESTER & LONDON INVESTMENT TRUST PLC

VALUATION AS AT 21st AUGUST 2009

The unaudited fully diluted net asset value per share (including income) as at
21st August 2009 was 338.5p.

For enquiries:

Manchester & London Investment Trust Plc - 0161 242 2899

Midas Investment Management Limited - 0161 228 1709