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 13 September 2011 was:

204.92p Capital only
206.58p Including current year revenue
204.92p Capital only (adjusted for treasury shares)
206.58p Including current year income (adjusted for treasury shares)
199.35p Capital only (diluted for subscription shares)
200.85p 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.