Net Asset Value(s)

Artemis Alpha Trust PLC
05 September 2005

ARTEMIS ALPHA TRUST PLC (the 'Company')

As at close of business on 2 September 2005, the Net Asset Value ('NAV') per

ordinary 1p share of the Company was as follows:



Undiluted NAV per share: 192.19 pence

Diluted NAV per share: 179.82 pence



5 SEPTEMBER 2005








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