Net Asset Value(s)

The company announces the following unaudited data                             
                                                                               
as at 7 January 2014 - Using BID Valuations                                    
                                                                               
NAV per ord share (excl income) with debt at par value           1239.93p      
                                                                               
NAV per ord share (excl income) with debt at market value*       1231.12p      
                                                                               
NAV per ord share (incl income) with debt at par value           1260.31p      
                                                                               
NAV per ord share (incl income) with debt at market value*       1251.49p      
                                                                               
*based on the market value of the debenture debt at NAV point,                 
                                                                               
source: Interactive Data                                                       
                                                                               
For more information please visit our website at                               
                                                                               
www.templebarinvestments.co.uk/