Net Asset Value

The Law Debenture Corporation p.l.c.

Fifth Floor

100 Wood Street

London EC2V 7EX

Tel: [phone]

8 August 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 5 August 2005 was 256.29 pence per share. The mid-market price at the close
of business that day was 276.00 pence per share.

Important Note:

The NAV has been calculated and published for the first time in accordance with
International Financial Reporting Standards. All previous NAV announcements
were calculated under UK Generally Accepted Accounting Principles.

Ian Bowden

Company Secretary