LOWLAND INVESTMENT COMPANY PLC

As at close of business on 27 January 2015, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items) was 1353.4p. As the Company's shares are now ex-dividend, the dividend has been deducted from the net asset value.

As at the close of business on 27 January 2015, the unaudited net asset value per share (excluding current financial year revenue items) was 1348.1p.

Mark Pantlin

Investment Trust Accounting Department

BNP Paribas Securities Services

Tel:  020 7410 4549