Net Asset Value(s) and Top Ten Holdings

MANCHESTER & LONDON INVESTMENT TRUST PLC

VALUATION AT 30TH MARCH 2007

The unaudited N.A.V. per share (based upon bid prices) as at 30th March 2007
was 393.59p

The ten largest investments of the Trust as at the last business day of the
month were:

PZ Cussons

Mouchel Parkman Group

Standard Chartered

Gazprom

Mecom

Biffa

TDG

Inspace

ICI

Rank Group

For enquiries:

Manchester & London Investment Trust Plc - 0161 242 2899

Midas Investment Management Limited - 0161 228 1709