Date:           15th December 2008                                           
                                                                             
On behalf of:   London Finance & Investment Group P.L.C. ("the Company")     

                   London Finance & Investment Group P.L.C.                    

                               Quarterly Update                                

London Finance & Investment Group P.L.C. (LSE: LFI, JSE: LNF), the investment
company, today provides a first quarter report on its performance.

In the five months to 30th November 2008, our net assets, including investments
at market value, fell by 53% from 38.7p to 18.2p. This was primarily due to
continuing declines in the values of two of our strategic investments: Finsbury
Food Group plc ("Finsbury") and MWB Group Holdings Plc ("MWB") whose share
prices fell by 67% and 63% respectively in the same period.

Finsbury released a trading statement on 26th November 2008 reporting on the
four month period ending 30th October 2008. In that period revenue for the
group continued to grow year on year with sales 11% ahead of the corresponding
period last year and the Cake, Bread and Free From divisions all reported
growth. Finsbury is taking steps to control its overheads and is increasing
prices to recover some of the increases in its raw material prices.

MWB continues to grow its three core businesses but has now extended, by two
years to 2010, its cash distribution programme so that it can better realise
value for its businesses when markets are more receptive.

The Company remains confident with its strategy and portfolio of investments,
and believes that these will drive the growth forward in the medium to longer
term. The Board intends to maintain the current dividend policy.

For further information, please contact:

London Finance & Investment Group P.L.C.                                   
                                                                           
David Marshall/Edward Beale                            020 7448 8950       
                                                                           
Frank Lucas                                            020 7628 1128       
                                                                           
Redleaf Communications                                 020 7822 0800       
                                                                           
Emma Kane/Sanna Sumner/Rebecca Sanders-Hewitt                              

Notes to Editors:

*    London Finance is an investment company whose assets primarily consist of 
     three Strategic Investments and a General Portfolio. Strategic Investments
     are significant investments in smaller UK quoted companies and these are  
     balanced by a General Portfolio, which consists mainly of investments in  
     major U.K. and European equities.                                         
                                                                               
*    Its strategic investments comprise: Western Selection P.L.C., MWB Group   
     Holdings Plc and Finsbury Food Group plc. Western Selection P.L.C. has    
     strategic investments in Creston plc, Swallowfield plc, Northbridge       
     Industrial Services plc and Hartim Limited. The General Portfolio has     
     material interests in Oil, Natural Resources, Pharmaceuticals and         
     Healthcare, Food and Beverages and Banking.                               



END
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