Net Asset Value(s)

Shires Income PLC
21 December 2005


                              Shires Income plc


The Net Asset Value of Shires Income plc as at close of business on 20 December
2005 was 293.7p.

This NAV has been prepared under the Company's existing accounting policies and
not International Accounting Standards.

Shires Income plc, an investment trust, is managed by Glasgow Investment
Managers Limited.



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