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 1 July 2008 was:

Capital only : Debt at par - 159.13

Capital only: Debt at Fair Value - 153.36

Including current year revenue-debt at par - 160.75

Including current year revenue-debt at market - 154.98

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 net asset value above has been calculated based on 47,789,753 ordinary
shares following the cancellation of 7,818,306 shares as a result of the tender
offer in October 2006.

4. For the latest daily net asset value, previous month end performance
statistics, asset allocation and ten largest holdings of the BlackRock managed
Investment Trusts, see BLRKINDEX on Reuters or page 8800 on ICB (Topic 3)