Net Asset Value

MANCHESTER & LONDON INVESTMENT TRUST PLC

VALUATION AS AT 16th OCTOBER 2009

The unaudited fully diluted net asset value per share (including income) as at
16th October 2009 was 361.2p.

The unaudited fully diluted net asset value per share (including income),
including a provision for the final dividend for the year ended 31st July 2009,
was 355.2p as at 16th October 2009.  The dividend is payable on 27th November
2009 and the shares will be quoted ex-dividend on 21st October 2009.

For enquiries:

               

Manchester & London Investment Trust Plc - 0161 242 2899

Midas Investment Management Limited - 0161 228 1709