Net Asset Value(s)

Manchester & London Inv Tst PLC
01 November 2005


MANCHESTER & LONDON INVESTMENT TRUST PLC

VALUATION AS AT 31 OCTOBER 2005


The unaudited N.A.V. per share as at 31 October 2005 was:

Undiluted          456.64p

Fully diluted      333.97p

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

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




For enquiries:

Manchester & London Investment Trust Plc - 0161 242 2899

Midas Investment Management Limited - 0870 121 1445


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