Share Buy Back

MANCHESTER & LONDON INVESTMENT TRUST PLC

Share Buy Back

Manchester & London Investment Trust plc ("the Company") announces that it has
bought back 265,601 Ordinary shares in the capital of the Company, representing
approximately 1.2 per cent of the Ordinary capital in issue (excluding treasury
shares) at an average price of 255.07 pence per Ordinary share.

The Ordinary shares bought back will be placed in treasury, and as a result the
number of Ordinary shares in issue, Ordinary shares held in treasury, and Total
Voting Rights attaching to the issued capital are now as follows:

Number of Ordinary Shares in issue                                   22,457,042
                                                                               
Number of Ordinary Shares held in treasury                              496,724
                                                                               
Total Voting Rights attaching to Ordinary Shares in issue            21,960,318

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