Holding(s) in Company

TR-1: Notifications of Major Interests in Shares                               

1. Identity of the issuer or the underlying issuer of existing                 
shares to which voting rights are attached:                                    
                                                                               
Manchester & London Investment Trust PLC                                       
                                                                               
2. Reason for notification                                        [Yes/No]     
                                                                               
An acquisition or disposal of voting rights                          Yes        
                                                                               
An acquisition or disposal of financial instruments which                      
may result in the                                                              
acquisition of shares already issued to which voting rights                    
are attached                                                                   
                                                                               
An event changing the breakdown of voting rights                               
                                                                               
Other (please specify):                                                        
                                                                               
3. Full name of person(s) subject to     Societe Generale Option Europe        
notification obligation:                                                               
                                                                   
                                                                               
4. Full name of shareholder(s) (if                                             
different from 3):                                                             
                                                                               
5. Date of transaction (and date on      23/10/07                              
which the                                                                      
threshold is crossed or reached if                                             
different):                                                                    
                                                                               
6. Date on which issuer notified:        24/10/07                              
                                                                               
7. Threshold(s) that is/are crossed or   3%                                    
reached:                                                                       

8: Notified Details                                                            
                                                                               
A: Voting rights attached to shares                                            

Class/type of  Situation previous to         Resulting situation after         
shares            the triggering             the triggering transaction        
                    transaction                                                
                                                                               
If possible    Number of  Number of   Number     Number of      Percentage of  
use              shares     voting      of     voting rights    voting rights  
ISIN code                   rights    shares                                   
                                                                               
                                              Direct  Indirect Direct  Indirect
                                                                               
ORD               450,000    450,000  350,000 350,000  350,000   2.51%        0
GB0002258472                                                                   
                                                                               

B: Financial Instruments                                                       
                                                                               
Resulting situation after the triggering transaction                           

Type of          Expiration      Exercise/      No. of voting    Percentage of 
financial           date        conversion    rights that may be voting rights 
instrument                      period/date    acquired (if the                
                                               instrument exerc                
                                               ised/converted)                 
                                                                               

Total (A+B)                                                                    

Number of voting rights                 Percentage of voting rights            
                                                                               
350,000                                 2.51%                                  

9. Chain of controlled undertakings through which the voting rights and /or the
financial instruments are effectively held, if applicable:                     
                                                                               

Proxy Voting:                                                                  
                                                                               
10. Name of proxy holder:                                                      
                                                                               
11. Number of voting rights proxy                                              
holder will cease to hold:                                                     
                                                                               
12. Date on which proxy holder will                                            
cease to hold voting rights:                                                   

13. Additional information:                                                    
                                                                               
14 Contact name:                                                               
                                                                               
15. Contact telephone name:                                                    

For notes on how to complete form TR-1 please see the FSA website.

Note: Annex should only be submitted to the FSA not the issuer

Annex: Notification of major interests in shares                               

A: Identity of the persons or legal entity subject to the notification         
obligation                                                                     

Full name                       S G Option Europe                              
(including legal form of legal                                                 
entities)                                                                      
                                                                               
Contact address                 17 Cours Valmy, 92800 Puteaux, France          
(registered office for legal                                                   
entities)                                                                      
                                                                               
Phone number & email                                                           
                                                                               
Other useful information        SG Option Europe is a subsidiary of SOCIETE    
(at least legal representative  GENERALE SA                                    
for legal persons)                                                             

B: Identity of the notifier, if applicable                                     

Full name                       Gemma Mathieson                                
                                                                               
Contact address                 SG House, 41 Tower Hill, London, EC3N 4SG      
                                                                               
Phone number & email                                                           
                                                                               
Other useful information        Compliance Control Room                        
                                                                               
(e.g. functional relationship                                                  
with the                                                                       
person or legal entity subject                                                 
to the                                                                         
notification obligation)                                                       

C: Additional information