Sale of Treasury Shares

Manchester & London Investment Trust plc (The "Company")            

                            Sale of Treasury Shares                            

                                 27 July 2010                                  

In accordance with Listing Rule 12.6.4R, the Company advises that on 26 July
2010, it sold 44 Ordinary shares which were previously held in Treasury, at a
price of 322p per share.

Following this announcement, the Company no longer holds any shares in Treasury
and has 22,324,223 Ordinary shares in issue.

For further information, please contact:

Mark Sheppard, David Rodrigues
Midas Investment Management Ltd
Telephone: [phone]

David Floyd, Rachel Rees
Fairfax I.S. PLC
Tel: [phone]