Net Asset Value(s)

NET ASSET VALUE

THE THROGMORTON TRUST PLC

The unaudited net asset value for The Throgmorton Trust PLC at close of
business on 19 February 2009 was:

92.42p Capital only

97.58p Including current year revenue

Notes:

1. Investments have been valued on a bid price basis.

2. Revenue items included in net asset value, with dividends payable deducted
   on the ex-dividend date.
   
3. The Company has received confirmation that it will receive £2.4m of
   interest from HMRC in respect of VAT repaid relating to the JP Morgan
   Calverhouse case. This interest receipt has been allocated between the
   continuing shareholders and the tender pool in proportion to the original
   allocation of assets between these two pools, and has been reflected in
   today's cum income NAV, resulting in an uplift to the continuing NAV per
   share of approximately 1.8%