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     £2.2111        B018CS4          5th June 2015    

Valuation as at date: 5th June 2015
Date: 08th June 2015

Par Value = Fair Value

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