TIDMMNL TIDMDDIT 
 
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART INTO ANY 
JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS 
OF SUCH JURISDICTION 
 
FOR IMMEDIATE RELEASE                                            28 April 2010 
 
                   Manchester & London Investment Trust PLC 
 
                                   Offer for 
 
                  Stakeholders' Momentum Investment Trust PLC 
 
          Posting of Offer Document, Prospectus Equivalent Document and 
                         Circular to Shareholders 
 
Earlier today the boards of Manchester & London Investment Trust PLC ("MLIT") 
and Stakeholders' Momentum Investment Trust PLC ("SMIT") announced a proposal 
to merge MLIT and SMIT. The merger is to be effected by way of a recommended 
offer by MLIT (the "Offer") for the whole of the issued and to be issued share 
capital of SMIT. 
 
The Offer Document has been posted today to SMIT Shareholders together with a 
Prospectus Equivalent Document containing information about MLIT, SMIT and the 
Enlarged Group. SMIT Shareholders whose shares are held in certificated form 
have also been sent a Form of Acceptance. 
 
An offer letter has also been posted today to the holder of Management Warrants 
in SMIT. 
 
The first closing of the Offer is at 1.00 p.m. on 19 May 2010. 
 
The acquisition of SMIT by MLIT is conditional on the approval of MLIT 
Shareholders in general meeting. The Circular containing notice of the General 
Meeting to approve the Offer and other related matters is being posted today to 
MLIT Shareholders together with the Prospectus Equivalent Document. 
 
Forms of Proxy have been enclosed with the Circular and should be completed and 
returned by MLIT Shareholders so as to be received by Computershare Investor 
Services PLC by 11.00 a.m. on 16 May 2010. The General Meeting will take place 
at the offices of Midas Investment Management Ltd, 1st Floor, Arthur House, 
Chorlton Street, Manchester M1 3FH, at 11.00 a.m. on 18 May 2010. 
 
If the Offer is unconditional as to acceptances on the first closing date, 
being 19 May 2010 and the Resolution is passed at the MLIT General Meeting on 
18 May 2010, it is expected that the New MLIT Shares will be admitted to 
listing and the Offer will be unconditional in all respects on 21 May 2010. 
 
Copies of the Offer Document, Prospectus Equivalent Document and Circular to 
MLIT Shareholders are available at: 
 
http://www.manchesterandlondon.co.uk/investorRelations.php 
 
Enquiries: 
 
Manchester & London Investment Trust PLC 
Peter Stanley                                       Tel: 0161 242 2895 
 
Stakeholders' Momentum Investment Trust PLC         Tel: 020 7148 7903 
Liam Murray 
 
Midas Investment Management Limited (fund manager to MLIT and SMIT) 
Mark Sheppard                                       Tel: 0161 242 2895 
 
Fairfax I.S. PLC (sponsor and adviser to MLIT) 
David Floyd, James King and Rachel Rees             Tel: (020) 7469 4358 
 
Libertas Capital Corporate Finance Limited (adviser to SMIT) 
Sandy Jamieson and Andrew McLennan                  Tel: (020) 7569 9650 
 
 
The MLIT Directors accept responsibility for the information contained in this 
announcement. To the best of the knowledge and belief of the MLIT Directors 
(who have taken all reasonable care to ensure that such is the case), the 
information contained in this announcement for which they accept responsibility 
is in accordance with the facts and does not omit anything likely to affect the 
import of such information. 
 
Fairfax I.S. PLC ("Fairfax"), which is authorised and regulated in the United 
Kingdom by the Financial Services Authority, is acting exclusively for MLIT and 
no one else in connection with the Offer and will not be responsible to anyone 
other than MLIT for providing the protections afforded to customers of Fairfax 
or for providing advice in relation to the Offer or any other matter referred 
to herein. The principal place of business of Fairfax I.S. PLC is 46 Berkeley 
Square, London W1J 5AT. 
 
Libertas Capital Corporate Finance Limited ("Libertas"), which is authorised 
and regulated in the United Kingdom by the Financial Services Authority, is 
acting exclusively for SMIT and no one else in connection with the Offer and 
will not be responsible to anyone other than SMIT for providing the protections 
afforded to customers of Libertas or for providing advice in relation to the 
Offer or any other matter referred to herein. The principal place of business 
of Libertas Capital Corporate Finance Limited is 16 Berkeley Street, London W1J 
8DZ. 
 
This announcement does not constitute, or form part of, an offer or an 
invitation to purchase or subscribe for any securities. 
 
All capitalised terms used in this announcement but not otherwise defined shall 
have the same meaning as in the Offer Document. 
 
 
 
END
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