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 11 November 2011 was:

202.48p Capital only
204.64p Including current year revenue
202.48p Capital only (adjusted for treasury shares)
204.64p 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.