Net Asset Value(s)

MANCHESTER & LONDON INVESTMENT TRUST PLC                    

                         VALUATION AS AT 21 JULY 2014                          

The unaudited fully diluted net asset value per share (including income) was
299.8p as at 21 July 2014.                                        
                                                                                                                  

For enquiries:      
                                                                                                               

Manchester & London Investment Trust Plc - 0161 242 2899

Midas Investment Management Limited - 0161 228 1709