Holding(s) in Company

For filings with the FSA include the annex  
For filings with issuer exclude the annex   

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     Manchester & Metropolitan Investment  
notification                             Ltd                                   
obligation:                                                                    
                                                                               
4. Full name of shareholder(s) (if       N/A                                   
different from 3):                                                             
                                                                               
5. Date of transaction (and date on      8 November 2007                       
which the                                                                      
threshold is crossed or reached if                                             
different):                                                                    
                                                                               
6. Date on which issuer notified:        8 November 2007                       
                                                                               
7. Threshold(s) that is/are crossed or   56%                                   
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 of     Number of       Percentage of 
use             shares     voting    shares     voting rights     voting rights 
ISIN code                  rights                                               
                                                                                
                                               Direct   Indirect Direct Indirect
                                                                                
Ordinary       7,643,349  7,643,349 7,868,349 7,868,349        0 56.42%        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                   
                                                  exercised/                   
                                                  converted)                   
                                                                               
N/a                 N/a             N/a              N/a              N/a      
                                                                               

Total (A+B)                                                                    

Number of voting rights                 Percentage of voting rights            
                                                                               
7,868,349                               56.42%                                 

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

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

13. Additional information:                                                    
                                                                               
14 Contact name:                    Peter Smith                                
                                                                               
15. Contact telephone name:         0161 242 2897                              

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                       Manchester & London Investment Trust Plc       
(including legal form of legal                                                 
entities)                                                                      
                                                                               
Contact address                 2nd Floor, Arthur House, Chorlton Street,      
(registered office for legal    Manchester, M1 3FH                             
entities)                                                                      
                                                                               
Phone number & email            0161 242 2897 email: [e-mail]      
                                                                               
Other useful information        Peter Smith                                    
(at least legal representative                                                 
for legal persons)                                                             

B: Identity of the notifier, if applicable                                     

Full name                       Peter Smith                                    
                                                                               
Contact address                 2nd Floor, Arthur House, Chorlton Street,      
                                Manchester, M1 3FH                             
                                                                               
Phone number & email            0161 242 2897 email: [e-mail]      
                                                                               
Other useful information        Company Secretary                              
                                                                               
(e.g. functional relationship                                                  
with the                                                                       
person or legal entity subject                                                 
to the                                                                         
notification obligation)                                                       

C: Additional information