Sale of Treasury Shares

MANCHESTER & LONDON INVESTMENT TRUST PLC
(the “Company")

Sale of Treasury Shares

The Company announces that it has today sold 50,000 of its ordinary shares of 25 pence each held in Treasury at a price of 430.0 pence per share.

Following this sale, the Company's issued share capital consists of 22,457,042 ordinary shares, none of which are held in treasury. Therefore, the total number of shares with voting rights in the Company is 22,457,042.

The figure of 22,457,042 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

1 November 2017

LEI: 213800HMBZXULR2EEO10