Annual Information Update

PROSPECTUS DIRECTIVE REQUIREMENT TO PROVIDE                  

                           ANNUAL INFORMATION UPDATE                           

This announcement is made in compliance with the requirements of the UK Listing
Authority's rule PR 5.2, which requires an issuer to prepare a document at
least annually that refers to or contains all information that has been
published or made available to the public over the previous 12 months. The
information below relates to the period of 10 March 2005 to 10 March 2006, this
latter date being the date that the Corporation's annual financial statements
were published.

Published Information

Below is a list of announcements made through the regulatory information
services during the above mentioned period, in compliance with requirements in
the UK Listing Authority rules, the Companies Act 1985 and the Application of
International Accounting Standards. The Corporation has not made any
announcements in connection with requirements under laws and rules of other EEA
states.

The Corporation has made the following announcements:

Directors' Dealings

A total of 31 notifications were made about directors' dealings. The
Corporation's Managing Director, Caroline Banszky, participates in two separate
monthly savings plans and these accounted for the bulk of the announcements.
The other announcements were of dividend reinvestments by other directors
arising from their (or their connected persons') holdings in PEPs and ISAs.

Notifications of movements in significant shareholdings (greater than 3%)

Four announcements were made (in June, July (twice) and November 2005)
following notifications received under section 198 of the Company's Act 1985 of
substantial interest in shares.

Purchase of shares by a subsidiary

Two announcements were made, one in May 2005 and one in February 2006. In both
cases, the announcement concerned the acquisition of Law Debenture shares by a
subsidiary pursuant to awards made in accordance with the Corporation's
deferred share bonus plan.

Final and Interim Results

Announcements were made in July 2005 and March 2006 respectively announcing the
Corporation's interim 2005 results and final 2005 results.

On both occasions, separate announcements were made confirming that the results
documents were available for examination at the UKLA's document viewing
facility.

International Financial Reporting Standards (`IFRS')

The announcement of the interim results in July 2005 also included an
announcement about the adoption by the Corporation of IFRS, and the publication
of a separate document sent to all shareholders detailing the changes arising
from the first time adoption of IFRS.

Net Asset Value

The Corporation made a weekly announcement (typically each Monday) of its Net
Asset Value as at close of play the preceding Friday.

Monthly Portfolio Information

In accordance with Listing Rule 15.4.11, the Corporation announced within two
business days of the end of each month a list of all investments in other
listed investment companies and listed investment trusts which themselves did
not have stated investment policies to invest no more than 15% of the total
assets in other listed investment companies or listed investment trusts (in
practice there are none of these), and the ten largest investments in the
portfolio.

Block listing six monthly return

The Corporation submitted block listing notifications in accordance with UK
Listing Authority rules in respect of the Corporation's Executive Share Option
Scheme and the Save As You Earn scheme.

Inside Information

The Corporation confirms that it has made no announcements in the last 12
months containing inside information.

Copies of all of the above announcements can be obtained from the Company
Secretary, The Law Debenture Corporation p.l.c., Fifth Floor, 100 Wood Street,
London, EC2V 7EX (telephone [phone]).

By definition, the information contained in the majority of the above
announcements is now historical and therefore out of date.

                     The Law Debenture Corporation p.l.c.                      

                                  Fifth Floor                                  

                                100 Wood Street                                

                                    London                                     

                                   EC2V 7EX                                    

             Registered in England No. 30397 at the above address              

                     The Law Debenture Corporation p.l.c.