Net Asset Value

MANCHESTER & LONDON INVESTMENT TRUST PUBLIC LIMITED COMPANY

VALUATION AS AT 19 APRIL 2016

The unaudited fully diluted net asset value per share (including income and excluding shares held in treasury) was 310.3p as at 19 April 2016.

The interim ordinary dividend of 0.40p, first special dividend of 0.46p and second special dividend of 2.10p per share are payable on 29 April 2016. The shares are now quoted ex-dividend.

For enquiries:

Manchester & London Investment Trust Public Limited Company - 0161 242 2899                                                                                                                                                                      

M&L Capital Management Ltd - 0207 584 5733