Net Asset Value(s)

Manchester & London Inv Tst PLC
02 February 2006


MANCHESTER & LONDON INVESTMENT TRUST PLC


VALUATION AS AT 31 JANUARY 2006



The unaudited N.A.V. per share (based upon bid prices) as at 31 January 2006
was:


Undiluted 488.05p

Fully diluted 356.42p

The ten largest investments of the Trust as at the last business day of the
month were:

PZ Cussons
Royal Dutch Shell 'B'
BAE Systems
Mouchel Parkman
Rank
Standard Chartered
Gazprom
Inspace
Scottish & Newcastle
TDG





For enquiries:

Manchester & London Investment Trust Plc - 0161 242 2899

Midas Investment Limited - 0870 121 1445






                      This information is provided by RNS
            The company news service from the London Stock Exchange