Net Asset Value(s)

Shires Income PLC
17 August 2005


                            Shires Income plc

The Net Asset Value of Shires Income plc as at close of business on 16 August
2005 was 272.1p.

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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