Net Asset Value and Portfolio Update

Net Asset Value The Board of The Law Debenture Corporation p.l.c. announces that its Net Asset Value (NAV Ex Income) at 31 May 2009 was 222.68 pence per share and NAV Cum Income was 227.36 pence per share. The mid-market price at the close of business that day was 231.75 pence per share. The NAV does not include income in respect of 2009 and is now calculated and published in accordance with International Financial Reporting Standards. All NAV announcements prior to 5 August 2005 were calculated under UK Generally Accepted Accounting Principles. In accordance with listing rule 15.6.8, The Law Debenture Corporation p.l.c. announces that it has no investments in other UK listed investment companies that require to be disclosed. Its top ten holdings, including all holdings with a value greater than 5% of the Corporation's gross assets as at 31 May 2009 are set out below Top 10 Holdings The top 10 holdings in the portfolio as at 31 May 2009 were: Rank Name of Holding % of portfolio (excl. cash) 1. Royal Dutch Shell 3.76 2. BP 3.74 3. Henderson Japan Capital Growth 3.26 4. HSBC 3.15 5. GlaxoSmithKline 3.05 6. Henderson Asia Pacific Capital Growth 2.78 7. Baillie Gifford Pacific 2.04 8. British American Tobacco 1.97 9. First State Asia Pacific 1.84 10. National Grid 6.125% 15/04/14 1.82 Geographical Split Region % of portfolio UK 70 Europe 12 North America 4 Japan 5 Other Pacific 7 Other - Cash and Fixed Interest 2 TOTAL 100 Released by The Law Debenture Corporation p.l.c., Fifth Floor, 100 Wood Street, London, EC2V 7EX (contact Ian Bowden, Company Secretariat, 020 7696 5285).
UK 100