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     Advance UK Trust Plc                  
notification  obligation:                                                                 
                                                                   
                                                                               
4. Full name of shareholder(s) (if       Nortrust Nominees Limited             
different from 3):                                                             
                                                                               
5. Date of transaction (and date on      23rd October 2007                     
which the                                                                      
threshold is crossed or reached if                                             
different):                                                                    
                                                                               
6. Date on which issuer notified:        24th October 2007                     
                                                                               
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
                                                                               
Ordinary                                                                       
                                                                               
GB0002258472      400,000    400,000  500,000 500,000        0   3.59%        0

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                   
                                                  exercised/                   
                                                  converted)                   
                                                                               

Total (A+B)                                                                    

Number of voting rights                 Percentage of voting rights            
                                                                               
500,000                                 3.59%                                  

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:         Progressive European Markets Limited is    
                                    investment manager to Advance UK Trust Plc 
                                                                               
14 Contact name:                    Mr A. Lee, Cavendish Administration Ltd    
                                                                               
15. Contact telephone name:         020 7490 4355                              

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                                                                      
(including legal form of legal                                                 
entities)                                                                      
                                                                               
Contact address                                                                
(registered office for legal                                                   
entities)                                                                      
                                                                               
Phone number & email                                                           
                                                                               
Other useful information                                                       
(at least legal representative                                                 
for legal persons)                                                             

B: Identity of the notifier, if applicable                                     

Full name                                                                      
                                                                               
Contact address                                                                
                                                                               
Phone number & email                                                           
                                                                               
Other useful information                                                       
                                                                               
(e.g. functional relationship                                                  
with the                                                                       
person or legal entity subject                                                 
to the                                                                         
notification obligation)                                                       

C: Additional information  

For enquiries:Manchester & London Investment Trust Plc - 0161 242 2899
Midas Investment Management Limited - 0161 228 1709