Tender Offer Announcement

26 November 2009

                           The Throgmorton Trust PLC                           

                             Future Tender Offers                              

Having reviewed the current position of the Company, including the continued
strong performance, the Board has decided not to exercise its discretion to
implement a tender offer in February 2010.

As outlined in the circular to shareholders dated 27 July 2009, the
implementation of any tender offer is at the discretion of the Directors. In
considering whether to implement a tender, the Directors take into account a
number of factors including the Company's short and medium term performance,
the discount to NAV both in absolute terms and relative to the peer group, the
expected size of the Company post-tender and the potential impact on the
ongoing portfolio. Having reviewed these factors the Directors do not believe
that it would be appropriate to implement a tender in February 2010. The
Directors will take the same factors into consideration when deciding whether
to implement the next semi annual tender offer in August 2010.

Following the Subscription Share issue in October 2009, which offered
shareholders the opportunity to participate in any future net asset value
growth of the Company, the Board continues to focus on ways to increase the
overall size of the Company for the benefit of all shareholders.

Enquiries:

BlackRock Investment Management (UK) Limited
Jonathan Ruck Keene [phone]

Oriel Securities
Joe Winkley [phone]
Sapna Shah