Net Asset Value(s)

MANCHESTER & LONDON INVESTMENT TRUST PLC

VALUATION AS AT THE 18TH MAY 2007

The unaudited fully diluted N.A.V. per share as at the 18th MAY was 405.20p

For enquiries:

Manchester & London Investment Trust Plc - 0161 242 2899

Midas Investment Management Limited - 0161 228 1709