Net Asset Value(s)

Artemis Alpha Trust PLC
29 December 2005

ARTEMIS ALPHA TRUST PLC (the 'Company')

As at close of business on 28 December 2005, the Net Asset Value ('NAV') per

ordinary 1p share of the Company was as follows:



Diluted NAV per share: 191.69 pence

Undiluted NAV per share: 206.22 pence



29 DECEMBER 2005








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