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 27 April 2011 was:

248.49p Capital only
249.41p Including current year revenue
248.49p Capital only (adjusted for treasury shares)
249.41p Including current year income (adjusted for treasury shares)
231.20p Capital only (diluted for subscription shares)
231.97p 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.