Subscription and Total Voting Rights

MANCHESTER AND LONDON INVESTMENT TRUST PLC

(the “Company” or “MLIT”)

13 December 2018

Subscription and Total Voting Rights

Further to our announcement yesterday, regarding the subscription for 1,810,266 new ordinary shares of 25 pence each (“Subscription Shares”) at 485.8 pence per share, applications have been made to the UK Listing Authority and the London Stock Exchange for the Subscription Shares to be admitted to the Official List and to trading on the London Stock Exchange's Main Market for listed securities (the "Admission"). The Admission is expected to take effect and dealings in the Subscription Shares will commence at 8:00 am (London Time) on 19th December 2018.

Following Admission, the total number of Ordinary Shares in issue with voting rights in the Company will be 27,606,992. This figure may be used by shareholders as the denominator for the calculation by which they may 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.

The information contained within this announcement is considered to be inside information, for the purposes of Article 7 of EU Market Abuse Regulation 596/2014, prior to its release.

For enquiries:

Manchester and London Investment Trust PLC               0207 584 5733

M&L Capital Management Limited                                  0207 584 5733

LEI: 213800HMBZXULR2EEO10