Net Asset Value

MANCHESTER & LONDON INVESTMENT TRUST PLC

VALUATION AS AT 14 JULY 2015

The unaudited fully diluted net asset value per share (including income and excluding shares held in treasury) was 295.0p as at 14 July 2015.

For enquiries:

Manchester & London Investment Trust Plc - 0161 242 2899

Midas Investment Management Limited - 0161 228 1709

UK 100

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