Net Asset Value(s)

The company announces the following unaudited data                             
                                                                               
as at 1 September 2011 - Using BID Valuations                                  
                                                                               
NAV per ord share (excl income) with debt at par value           830.56p       
                                                                               
NAV per ord share (excl income) with debt at market value*       809.51p       
                                                                               
NAV per ord share (incl income) with debt at par value           857.99p       
                                                                               
NAV per ord share (incl income) with debt at market value*       836.94p       
                                                                               
*based on the market value of the debenture debt at NAV point,                 
                                                                               
source: Evolution Securities                                                   
                                                                               
For more information please visit our website at                               
                                                                               
www.templebarinvestments.co.uk/