Net Asset Value(s)

8 January 2009

                              CRYSTAL AMBER FUND                               

                     "Crystal Amber Fund" or the "Company"                     

                  ASSET VALUE MAINTAINED IN DIFFICULT MARKETS                  

Crystal Amber Fund's (AIM: CRS) ordinary shares were admitted to trading on AIM
on 17 June 2008. As stated in the admission document, net asset value is
calculated quarterly on 31 March, 30 June, 30 September and 31 December.

On 4 July 2008, the Company reported an initial unaudited net asset value per
share of 95.05p, reflecting the placing proceeds and the costs of flotation.

The Company now announces that its net asset value per share on 31 December
2008 was 95.58p.

William Collins, chairman of Crystal Amber Fund, comments

"Since the Fund was launched in June last year, our investment strategy has
been implemented during a period of unprecedented market turmoil and
volatility. The FTSE 250 index, which includes many of the stocks we monitor,
has fallen by more than 30 per cent over the same period.

Against that background, capital preservation has been paramount and this has
been achieved, with the Fund's net asset value marginally ahead of our starting
capital, net of launch costs.

With markets remaining volatile, our stance remains cautious and more than half
of the assets were held in cash or short dated UK government stock as at 31
December 2008.

We have been building a focussed portfolio of equities which we see as
undervalued and where we believe we can help to enhance value. Although it is
still early days, we have begun an active process of engaging with our investee
companies and we intend to continue this process.

The Fund's cash reserve gives us the ability to take advantage of any
opportunities that arise from ongoing market volatility. While the economic
outlook remains extremely challenging, our experience so far gives us
confidence that our strategy can deliver value."

For further enquiries please contact:

Crystal Amber Fund

William Collins

Tel: [phone]

John East & Partners Limited

David Worlidge/Bidhi Bhoma

Tel: [phone]