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 11 September 2008 was:

133.96p Capital only

135.71p Including current year revenue

Notes:

1. The NAV has been calculated before adjusting for the tender.

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

3. Revenue items included in net asset value, with dividends payable deducted
on the ex-dividend date.