Holding(s) in Company

For filings with the FCA include the annex                                              
                                                                                        
For filings with issuer exclude the annex                                               
                                                                                        
                                                                                        
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES                                          
                                                                                        
                                                                                        
1. Identity of the issuer or the underlying issuer                     Ruffer Investment
of existing shares to which voting rights are                                Company Ltd
attached:ii                                                                             
                                                                                        
2. Reason for the notification (please tick the appropriate box or boxes):               
                                                                                        
An acquisition or disposal of voting rights                                             
                                                                                        
An acquisition or disposal of qualifying financial instruments which may result         
in theacquisition of shares already issued to which voting rights are attached          
                                                                                        
An acquisition or disposal of instruments with similar economic effect to               
qualifying financial instruments                                                        
                                                                                        
An event changing the breakdown of voting rights                                        
                                                                                        
Other (please specify):                            Change in controlled undertakings   x
                                                                                        
3. Full name of person(s) subject to the                          Brewin Dolphin Limited
notification obligation:iii                                                             
                                                                                        
4. Full name of shareholder(s)                                                          
 (if differentfrom 3.):iv                                                               
                                                                                        
5. Date of the transaction and date on                                                  
which the threshold is crossed or                                     14th November 2014
reached:v                                                                               
                                                                                        
6. Date on which issuer notified:                                     17th November 2014
                                                                                        
7. Threshold(s) that is/are crossed or                                                7%
reached:vi, vii                                                                         
                                                                                        

8. Notified details:                                                                     
                                                                                         
A: Voting rights attached to sharesviii, ix                                              
                                                                                         
Class/type   Situation previous           Resulting situation after the triggering       
of           to the triggering            transaction                                    
shares       transaction                                                                 
                                                                                         
                                                                                         
if possible  Number           Number      Number     Number of voting     % of  voting   
using        of               of          of shares  rights               rightsx        
the ISIN     Shares           Voting                                                     
CODE                          Rights                                                     
                                          Direct     Directxi Indirectxii Direct Indirect
                                                                                         
                                                                                         
                                                                                         
RED PTG PRF                                                                              
SHS                                                                                      
GBP0.0001                                                                         
             6,671,250        6,671,250   N/A        N/A      12,169,923  N/A    7.9018%       
                                                                                         
GB00B018CS46                                                                             
                 
                                                                       
                                                                                         
B: Qualifying Financial Instruments                                                      
                                                                                         
Resulting situation after the triggering transaction                                     
                                                                                         
Type of financial Expiration    Exercise/               Number of voting       % of      
instrument        datexiii      Conversion Periodxiv    rights that may be     voting    
                                                        acquired if the        rights    
                                                        instrument is                    
                                                        exercised/ converted.            
                                                                                         
                                                                                         
                                                                                         
                                                                                         
                                                                                         
C: Financial Instruments with similar economic effect to Qualifying Financial            
Instrumentsxv, xvi                                                                       
                                                                                         
Resulting situation after the triggering transaction                                     
                                                                                         
Type of       Exercise price  Expiration Exercise/   Number of voting       % of voting  
financial                     datexvii   Conversion  rights instrument      rightsxix, xx
instrument                               periodxviii refers to                           
                                                                                         
                                                                                         
                                                                                         
                                                                            Nominal Delta  
                                                                                          
                                                                                         
Total (A+B+C)                                                                            
                                                                                         
Number of voting rights                         Percentage of voting rights              
                                                                                         
12,169,923                                      7.9018%                                  
                                                                                         


 

9. Chain of controlled undertakings through which the voting rights and/or the       
financial instruments are effectively held, if applicable:xxi                        
                                                                                     
Indirect - Brewin Nominees (Channel Islands) Limited           463,180  0.3007 %     
                                                                                     
Indirect - Brewin Nominees Limited - Individual Designations    51,485  0.0334 %      
                                                                                     
Indirect - Brewin Nominees Limited  A/c NOM                  6,193,554  4.0215 %     
                                                                                     
Indirect - Brewin Nominees Limited A/c ISA                   2,952,783  1.9172 %     
                                                                                     
Indirect - Brewin Nominees Limited  A/c GROSS                2,064,263  1.3403 %      
                                                                                     
Indirect - Brewin Nominees Limited A/c CHARITY                 385,264  0.2501 %      
                                                                                     
Indirect - Brewin Nominees Limited A/c OFFBOND                  59,394  0.0386 %      
                                                                                     
                                                                                     
                                                                                     
Proxy Voting:                                                                        
                                                                                     
10. Name of the proxy holder:                                                        
                                                                                     
11. Number of voting rights proxy holder will cease                                  
to hold:                                                                             
                                                                                     
12. Date on which proxy holder will cease to hold                                    
voting rights:                                                                       
                                                                                     
13. Additional information:   Figures based on shares in issue of 154,013,418        
                                                                                     
                              The indirect voting rights under (9) relate to shares  
                              held in client portfolios, managed by those firms,     
                              under discretionary investment management agreements.  
                                                                                     
14. Contact name:                                                       Lee Jemmerson
                                                                                     
15. Contact telephone number:                                           0191 279 7334