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 3 March 2010 to 14 March 2011, this
latter date being the date that the Corporation's annual financial statements
were published.

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 2006 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.

Directors' Dealings

A total of 7 notifications were made about directors' dealings.

Notifications of movements in significant shareholdings (greater than 3%) and 
notification of major interests in shares

One announcements was made in August 2010 under the Disclosure and Transparency
Rules ("DTR") about notification of major interest in shares.

Purchase of shares by a subsidiary

One announcement was made, on 2 March 2011. 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.

Results - Disclosures under DTR 4 (Periodic Financial Reporting)

The following announcements were made:

  * Interim management statement for the first quarter of 2010 (announced 28
    April 2010);
   
  * Half yearly (Interim) report for the first six months of 2010 (announced 2
    August 2010);
   
  * Interim management statement for the third quarter of 2010 (announced 27
    October 2010);
   
  * Annual financial report for 2010 (announced 1 March 2011).
   
As required, separate announcements were made confirming that the periodic
financial reports were available for examination at the UKLA's document viewing
facility.

Annual General Meeting ("AGM") - documents available for view

An announcement was made on 14 March 2011 confirming that the AGM notice of
meeting, proxy cards and annual report and accounts reports would shortly be
available for examination at the National Storage Mechanism

Results of Annual General Meeting - proxies received, resolutions available to
view

Immediately after the 2010 AGM, on 31 March, the Corporation announced the
results of its AGM including the numbers of proxy votes received in respect of
each resolution proposed at the AGM and the fact that copies of the special
resolutions approved at the meeting were available for examination at the
UKLA's document viewing facility.

Annual Information Update

The Corporation's Annual Information Update was published on 31 March 2010.

Total Voting Rights

The Corporation announced changes to its total voting rights figure on 31
August and 30 September 2010 and on 4 January 2011.

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

The Corporation announced within two business days of the end of each month
(UKLA Rule 15.6.8 requires this information to be published only quarterly) 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.

Compliance with the Model Code

As an investment trust, the Corporation is able to take advantage of the
provisions of Listing Rule 15.5.1 (4), which permits dealing in shares during a
close period so long as an announcement is made that all inside information
which the directors and the Corporation may have had has previously been
disclosed. Such announcements were made on 1 July 2010 and 5 January 2011.

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]).

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

Copies of this Annual Information Update have been filed with the National
Storage Mechanism.

                     The Law Debenture Corporation p.l.c.