Net Asset Value(s)

RUFFER INVESTMENT COMPANY LIMITED

       (a closed-ended investment company incorporated in Guernsey with
                          registration number 41996)

       FUND NAME              NAV        SEDOL          NAV DATE

Ruffer Investment Co Ltd    £2.0968     B018CS4    19th September 2014


Valuation as at date: 12th September 2014

Date: 22nd September 2014

Par Value = Fair Value



Enquiries:
Northern Trust International Fund Administration Services (Guernsey) Limited
Harry Rouillard 44 (0)1481 745315