Net Asset Value

The Law Debenture Corporation p.l.c.

Fifth Floor

100 Wood Street

London EC2V 7EX

Tel: [phone]

25 July 2005

Net Asset Value - The Law Debenture Corporation p.l.c.

The Law Debenture Corporation p.l.c. announces that its Net Asset Value ('NAV')
at 22 July 2005 was 258.39 pence per share. The mid-market price at the close
of business that day was 264.75 pence per share.

Ian Bowden

Company Secretary