Net Asset Value(s)

Net Asset Value

The Board of The Law Debenture Corporation p.l.c. announces that its Net Asset
Value (NAV) at 30th June 2007 was 346.50 pence per share. The mid-market price
at the close of business that day was 362.50 pence per share.

The NAV does not include income in respect of 2007 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 15.4.11, The Law Debenture Corporation p.l.c.
announces that it has no investments in other UK listed investment companies.
Its top ten holdings, including all holdings with a value greater than 5% of
the Corporation's gross assets as at 30th June 2007 are set out below

Top 10 Holdings

The top 10 holdings in the portfolio as at 30th June 2007 were:

Rank     Name of Holding                         % of portfolio
                                                   (excl. cash)
                                                               
1.       Henderson Asia Pacific Capital Growth             7.29
                                                               
2.       BP                                                4.49
                                                               
3.       Royal Dutch Shell                                 3.19
                                                               
4.       HSBC                                              3.17
                                                               
5.       Henderson Japan Capital Growth                    3.04
                                                               
6.       Royal Bank of Scotland                            2.92
                                                               
7.       GlaxoSmithKline                                   2.71
                                                               
8.       Senior                                            2.43
                                                               
9.       Vodafone                                          2.15
                                                               
10.      British American Tobacco                          2.10

Geographical Split

Region                           % of portfolio
                                               
UK                                           61
                                               
Europe                                       13
                                               
North America                                 -
                                               
Japan                                         4
                                               
Other Pacific                                 6
                                               
Other                                         -
                                               
Cash and Fixed Interest                      16
                                               
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).