Net Asset Value(s)

Manchester & London Inv Tst PLC
01 August 2006


MANCHESTER & LONDON INVESTMENT TRUST PLC


VALUATION AS AT 31 JULY 2006





The unaudited N.A.V. per share (based upon bid prices) as at 31 July 2006 was:





Undiluted 480.67p


Fully diluted 351.67p


The ten largest investments of the Trust as at the last business day of the
month were:


PZ Cussons

Cash deposits

Royal Dutch Shell 'B'

Mouchel Parkman

Gazprom

Standard Chartered

Rank

Scottish & Newcastle

Inspace

TDG



For enquiries:

Manchester & London Investment Trust Plc - 0161 242 2899

Midas Investment Limited - 0161 228 1709








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