Net Asset Value(s)

Manchester & London Inv Tst PLC
01 June 2006


MANCHESTER & LONDON INVESTMENT TRUST PLC

VALUATION AS AT 31ST MAY 2006

The unaudited N.A.V. per share as at 31st May 2006 was:

Undiluted              491.31p

Fully diluted          358.79p


For enquiries:

Manchester & London Investment Trust Plc - 0161 242 2899

Midas Investment Management Limited - 0161 228 1709



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