Net Asset Value(s)

London, 8 December 2015

MENHADEN CAPITAL PLC

NET ASSET VALUE

The estimated un-audited net asset values for Menhaden Capital PLC, calculated in accordance with the guidelines of the Association of Investment Companies, at the close of business on 30 November 2015 were 81.19p (ex income) and 81.26p (cum income).

For and on behalf of the Board

Frostrow Capital LLP

Secretary

UK 100

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