THE BANKERS INVESTMENT TRUST PLC

213800B9YWXL3X1VMZ69

As at close of business on 12 December 2017, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items and excluding shares held in treasury) was 883.8p and the net asset value per share with debt marked at fair value was 880.2p.

As at close of business on 12 December 2017, the unaudited net asset value per share (excluding current financial year revenue items and shares held in treasury) was 875.7p and the net asset value per share with debt marked at fair value was 872.1p.

The Company's debenture is fair valued daily, based on its market value, while loan notes and short term borrowings are valued at par.

Wendy King

Janus Henderson Investors

Telephone: 020 7818 4233