Block Listing Application

MANCHESTER AND LONDON INVESTMENT TRUST PLC

(the “Company” or “MLIT”)

27 November 2020

Block Listing Application

Application has been made to the Financial Conduct Authority (FCA) and to the London Stock Exchange for a block listing, for general business purposes, of 4,000,000 Ordinary Shares of 25 pence each in the capital of the Company ("Ordinary Shares") to be admitted to the premium listing segment of the Official List of the FCA and to trading on the London Stock Exchange's main market for listed securities (the "Block Listing Admission").

The 4,000,000 Ordinary Shares to be block listed may be issued pursuant to the Company's existing authority to issue shares on a non pre-emptive basis under the share issuance programme.  These Ordinary Shares may be issued inter alia to satisfy market demand and for the purposes of managing the premium to net asset value per Ordinary Share at which the Ordinary Shares are trading. When issued, the new Ordinary Shares will rank pari passu with the existing Ordinary Shares in issue. It is expected that the Block Listing Admission will become effective at 8.00 a.m. on 1 December 2020.

For enquiries:

Manchester and London Investment Trust PLC    0207 584 5733

M&L Capital Management Limited   as above / [e-mail]

LEI: 213800HMBZXULR2EEO10