RLU Royal Lon Tst

RNS Number:7803B
Royal London UK Eqty&Income Tst PLC
08 August 2007

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



As at close of business on 3 August 2007, 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 = 39.39
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 30 June 2007





Asset Exposures:



Equity Portfolio = #78.245m



Fixed Interest Portfolio = #25.799m



Income Portfolio = #7.528m



Cash = #14.748m





Total Gross Assets = #126.320m



Net Assets (excl ZDPs) = #54.589m





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



As at close of business 3 August 2007, the NAV per Zero Dividend Preference

share of the Subsidiary, a wholly owned subsidiary of the Company = 163.80
pence.

*Notes:

 1. The investments are valued at bid and the bank loan is included at fair
    value.
 2. Consent of the Annuity Shareholders to a winding up prior to their redemption
    date of 14

    September 2021 may require that Annuity Shareholders are paid an amount
    equivalent to

    at least the yield of 8.2% per annum. For illustrative purposes only, if a
    voluntary winding-up

    of the Company were to occur on 14 September 2008, when the Zero Dividend
    Preference

    Shares of the Subsidiary are to be repaid, a payment of 95.3p per Annuity
    Share would be

    required in order to achieve the yield of 8.2% per annum on the Annuity
    Shares which would

    reduce the amount attributable to the Ordinary Shareholders by 8.7p per
    Share.





BNP Paribas Secretarial Services Limited

Secretary

8 AUGUST 2007


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

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