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 on 20 November 2013 were:

318.95p Capital only
322.77p including current year revenue
318.95p Capital only (adjusted for treasury shares)
322.77p including current year income (adjusted for treasury shares)

Notes:

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

2. The Company's issued share capital 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.