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 7 April 2011 was:

245.36p Capital only
246.11p Including current year revenue
245.36p Capital only (adjusted for treasury shares)
246.11p Including current year income (adjusted for treasury shares)
228.60p Capital only (diluted for subscription shares)
229.23p Including current year income (diluted for subscription shares)

Notes:

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

2. Following the conversion of 977,559 Subscription Shares into Ordinary Shares
on 7 February 2011, the Company's issued share capital now comprises 60,797,273 Ordinary Shares,
7,400,000 Treasury Shares and 12,333,053 Subscription Shares.

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