Interim Management Statement

Majedie Investments PLC                            

Interim Management Statement

The Board of Majedie Investments PLC announces its first Interim Management
Statement for the year ending 30 September 2011, as required by the UK Listing
Authority's Disclosure and Transparency Rules. This Statement is in respect of
the period from 1 October 2010.

Description

Majedie Investments PLC is a investment trust listed on the London Stock
Exchange. The original company was established in 1910 and owned several rubber
estates in Malaysia. It evolved into an investment company and obtained
investment trust status in 1985.

The Company owns a 30% stake in the asset management boutique, Majedie Asset
Management, and in 2010, it established a new asset management business,
Javelin Capital LLP, to manage the Company's assets as well as external funds.

 Investment Objective

To maximise total shareholder return over the long term whilst increasing
dividends by more than the rate of inflation.


Key Factsat 31 December 2010

Share Price                           201.5p
                                            
NAV per Share (debt at par)           238.3p
                                            
Discount                              15.40%
                                            
Dividend Yield (excluding              5.20%
special)                                    
                                            
Five Year Dividend Growth                16%
                                            
Net Gearing                           22.90%
                                            
Net Assets                           £124.0m
                                            
Market Capitalisation                £105.8m
                                            
Total Assets                         £157.8m
                                            
Sector                         Global Growth
                                            
Ticker                               MAJE.LN

% Performance to 31 December 2010


Total Return          3 Months to       Calendar        Fiscal
                      31 December           Year          Year           
                             2010           2010          2010     
                                                                  
Net Asset Value              5.8%          -1.8%         -0.6%    
                                                                  
Share Price                  5.2%           8.6%          7.9%     
                                                                  
Core Portfolio               7.3%           8.2%          5.9%     


Balance Sheet at 31 December 2010

                             %                                          
                             Total                                             
                      £ Mil  Assets Notes                                           
                                                                               
       Core Portfolio  96.9   61%   Long-only equity portfolio invested in     
                                    mainstream global stocks with a focus on   
                                    dividends. Its benchmark is 70% FTSE       
                                    All-Share & 30% FTSE World ex. UK Index    
                                    (sterling) on a total return basis.        
                                                                               
Javelin Capita Global  19.9   13%   An absolute return, long-short global      
    Equity Strategies               equity fund.                               
                 Fund                                                          
                                                                               
   Non Core Portfolio   9.1    6%   Investments in private equity and listed   
                                    equities with low liquidity.               
                                                                               
       Total Equities 125.9   80%                                              
                                                                               
        Majedie Asset  30     19%   30% stake in an unlisted asset management  
           Management               company.                                   
                                                                               
  Javelin Capital LLP   1.7    1%   70% stake in an unlisted asset management  
                                    company.                                   
                                                                               
        Other Assets/   0.2    0%                                              
        (Liabilities)                                                          
                                                                               
         Total Assets 157.8  100%                                             
                                                                               
           Debentures -33.8                                                    
                                                                               
           Net Assets 124                                                     


Top Ten Investments at 31 December 2010

Majedie Asset Management                   19.0%
                                                
Javelin Capital Global Equity              12.6%
Strategies Fund                                 
                                                
Royal Dutch Shell                           3.8%
                                                
HSBC                                        3.6%
                                                
Vodafone                                    2.7%
                                                
BP                                          2.7%
                                                
GlaxoSmithKline                             2.5%
                                                
Rio Tinto                                   2.1%
                                                
BHP Billiton                                2.1%
                                                
Vostok Energy                               1.9%
                                                
                                           53.0%
                                                
Figures are % of total assets                   


Regional Allocation in Core Portfolio at 31 December 2010

UK               68.7%
                      
North America    14.6%
                      
Europe ex UK      6.8%
                      
Rest of World     8.3%
                      
Cash              1.6%


Sector Allocation in Core Portfolio at 31 December 2010

Basic Materials                  10%
                                    
Consumer Goods                    8%
                                    
Consumer Services                 9%
                                    
Equity Investment                 1%
Instruments                         
                                    
Financials                       17%
                                    
Health Care                       8%
                                    
Industrials                      13%
                                    
Oil & Gas                        16%
                                    
Technology                        5%
                                    
Telecommunications                8%
                                    
Utilities                         3%
                                    
Cash                              2%


Material Events or transactions

Equity markets gave an impressive performance in the fourth quarter bolstered
by a December rally. The quarter started well with confirmation that the
Federal Reserve would undertake a second round of quantitative easing. However,
the European sovereign debt crisis soon weighed on sentiment as Ireland
accepted a €85 billion rescue for its beleaguered banking system. There was
concern that contagion could affect the larger economies of Spain and Italy,
and ultimately the future of the euro was brought into question if Germany
should refuse to support these countries. December saw a sharp change in
sentiment as a raft of strong economic data showed robust US manufacturing
activity and an improvement in US employment. Growth estimates for the US have
risen to 3-3.5% for 2011 which have resulted in rising bond yields.

In 4Q 2010, the Company's NAV and share price returned 5.8% and 5.2%
respectively. The Core Portfolio returned 7.3% with its performance driven by
commodity stocks. The investment in the Javelin Capital Global Equity
Strategies Fund was broadly neutral in sterling terms.

Majedie Asset Management paid a final 2010 dividend to Majedie Investments PLC
of £1.16 million in December 2010.

Javelin Capital following its launch on 1 September 2010 has focussed on
gaining assets under management upon which its business plan is predicated. In
the current environment for new business start-ups it may be that the process
of increasing assets under management takes longer than anticipated in the
business plan. Were this to be the case the Company may provide further capital
as a short term funding solution.

There have been no other material events or transactions that have taken place
between 31 December 2010 and the date of publication of this statement.


Disclaimer


This Interim Management Statement has been issued by Majedie Investments PLC on
19 January 2011. The news, information, and data in this statement should not
be deemed as a financial promotion or recommendation. Majedie Investments PLC
is not authorised to give financial advice