Share Buy back

MANCHESTER & LONDON INVESTMENT TRUST PLC
Share Buy Back

Manchester & London Investment Trust plc ("the Company") announces that it has
today bought back 50,000 Ordinary shares in the capital of the Company,
representing approximately 0.23 per cent of the Ordinary capital in issue
(excluding treasury shares) at an average price of 244.40 pence per Ordinary
share.

The Ordinary shares bought back will be placed in treasury, and as a result the
number of Ordinary shares in issue, Ordinary shares held in treasury, and Total
Voting Rights attaching to the issued capital are now as follows:

Number of Ordinary Shares in issue                                   22,457,042
                                                                               
Number of Ordinary Shares held in treasury                              555,851
                                                                               
Total Voting Rights attaching to Ordinary Shares in issue            21,901,191

For enquiries:
Manchester & London Investment Trust Plc - 0161 242 2899
Midas Investment Management Limited - 0161 228 1709