Net Asset Value(s)

NET ASSET VALUE

THE THROGMORTON TRUST PLC

The unaudited net asset values for The Throgmorton Trust PLC at close of
business 8 November 2011 was:

204.00p Capital only
206.14p Including current year revenue
204.00p Capital only (adjusted for treasury shares)
206.14p Including current year income (adjusted for treasury shares)

Notes:

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

2. Following thefinal conversion of 6,916,989 Subscription Shares into Ordinary
Shares on 8 November 2011, the Company's issued share capital now comprises
73,130,326 Ordinary Shares and 7,400,000 Treasury Shares.

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