Royal Ldn UK E&I Tst - Monthly Net Asset Value(s)

RNS Number:1175S
Royal London UK Eqty&Income Tst PLC
10 April 2008

ROYAL LONDON UK EQUITY & INCOME TRUST PLC (the "Company")

As at close of business on 31 March 2008, the unaudited net asset value ("NAV")
per share class of

the Company calculated in accordance with the AIC formula was:

NAV per Ordinary Share excluding current financial year revenue items = 26.98
pence

NAV per Annuity Share = 75.00 pence*

In the Chairman's Statement in the last Annual Report and Accounts, the Board
stated its intention to move towards a more absolute return profile in the
Trust. In line with this intention, the Board has authorised the Manager to
adopt the use of certain derivatives which reduce market risks. The Manager has
started this process. These strategies change the risk profile of the Trust and
it is no longer meaningful simply to report positions in terms of "asset
allocation". Accordingly, the table below reflects the correct exposures to
markets that the strategies are currently creating in the Trust.

As at 31 March 2008

Asset Exposures:

Equity Portfolio = £58.0m

Fixed Interest Portfolio = £16.9m

Income Portfolio = £3.4m

Cash = £35.9m

Total Gross Assets = £114.2m

Net Assets (excl ZDPs) = £41.4m

ROYAL LONDON UK EQUITY & INCOME SECURITIES PLC (the "Subsidiary")

As at close of business 31 March 2008, the NAV per Zero Dividend Preference

share of the Subsidiary, a wholly owned subsidiary of the Company = 173.13
pence.

*Notes:

1. The investments are valued at bid and the bank loan is included at fair
value.

2. The NAV of 75.00 pence per Annuity Share stated above is the amount payable
to Annuity Shareholders according to the Articles of Association on their
redemption date of 14 September 2021. Consent of the Annuity Shareholders to a
winding-up prior to that date would be required. The Articles do not provide a
formula to be used in such an event and any settlement would need to be
negotiated with the Annuity Shareholders. The NAV of 75.00 pence should not be
taken as reflecting such an amount.

3. The NAV per Ordinary Share stated above includes an interim payment from
Royal London Asset Management Limited in respect of a refund of VAT on
management fees.

BNP Paribas Secretarial Services Limited

Secretary

10 APRIL 2008

This information is provided by RNS
The company news service from the London Stock Exchange
END

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