Net Asset Value(s)

Shires Income PLC
21 September 2005


Shires Income plc

The Net Asset Value of Shires Income plc as at close of business on 20 September
2005 was 279.5p.

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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