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 31 October 2013 were:

317.40p Capital only
321.32p including current year revenue
317.40p Capital only (adjusted for treasury shares)
321.32p 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.