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 8 September 2011 was:

209.77p Capital only
211.44p Including current year revenue
209.77p Capital only (adjusted for treasury shares)
211.44p Including current year income (adjusted for treasury shares)
203.73p Capital only (diluted for subscription shares)
205.25p Including current year income (diluted for subscription shares)

Notes:

1. Investments have been valued on a bid price basis.
2. Following the conversion of 3,333,920 Subscription Shares into Ordinary
Shares on 9 August 2011, the Company's issued share capital now comprises
66,213,737 Ordinary Shares, 7,400,000 Treasury Shares and 6,916,589
Subscription Shares.
3. Revenue items included in net asset value, with dividends payable deducted
on the ex-dividend date.