Net Asset Value

MANCHESTER & LONDON INVESTMENT TRUST PLC
VALUATION AS AT 25 NOVEMBER 2014

Further to the announcement on 12 November 2014, the final ordinary 2014,
second special 2014 and quarter 1 special 2015 dividends (totalling 5.55p per
share) are payable on 28 November 2014. The shares are now quoted ex-dividend.

The unaudited fully diluted net asset value per share (including income and
excluding shares held in treasury) was 284.1p as at 25 November 2014.


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