Net Asset Value(s)

Shires Income PLC
31 August 2005


                              Shires Income plc


The Net Asset Value of Shires Income plc as at close of business on 30 August
2005 was 274.4p.

This NAV has been prepared under the Company's existing accounting policies and
not International Accounting Standards.

Shires Income plc, an investment trust, is managed by Glasgow Investment
Managers Limited.



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