Manchester&lon. Regulatory News (MNL)

NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING MANAGERIALRESPONSIBILITIES AND CONNECTED PERSONS 1. Name of the issuer: Manchester & London Investment Trust plc 2. State whether the notification relates to (i) a transaction notified in accordance with DTR 3.1.2 R, (ii) a disclosure made in accordance with LR 9.8.6R(1) or (iii) a disclosure made in accordance with section 793 of the Companies Act (2006): Disclosure in accordance with (i) above 3. Name of person discharging managerial responsibilities/director: Mark Sheppard (Investment Manager) M&M Investment Company Plc (Parent Company) 4. State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person: Notification re company named in 3 5. Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial interest: Holding of the Parent Company referred to in 3. 6. Description of shares (including class), debentures or derivatives or financial instruments relating to shares: Ordinary shares of 25p each 7. Name of registered shareholders(s) and, if more than one, the number of shares held by each of them: Pershing Nominees Ltd (MDCLT) 8. State the nature of the transaction: Purchase of shares by Parent Company 9. Number of shares, debentures or financial instruments relating to shares acquired: 684 ordinary shares 10. Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage): 0.003% 11. Number of shares, debentures or financial instruments relating to shares disposed: N/A 12. Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage): N/A 13. Price per share or value of transaction: £2.3525 14. Date and place of transaction: 24 February 2015, Manchester 15. Total holding following notification and total percentage holding following notification (any treasury shares of that class should not be taken into account when calculating percentage): 13,475,275 (62.55%) Ordinary shares of 25p each 16. Date issuer informed of transaction: 24 February 2015 17. Date of grant: N/A 18. Period during which or date on which it can be exercised: N/A 19. Total amount paid (if any) for grant of the option: N/A 20. Description of shares or debentures involved (class and number): N/A 21. Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise: N/A 22. Total number of shares or debentures over which options held following notification: N/A 23. Any additional information: N/A 24. Name of contact and telephone for queries M K Camp Company Secretary Manchester & London Investment Trust plc Tel: 0161 242 8246

Date: 24 February 2015