Net Asset Value(s)

Artemis Alpha Trust PLC
02 February 2006

ARTEMIS ALPHA TRUST PLC (the 'Company')

As at close of business on 1 February 2006, the Net Asset Value ('NAV') per

ordinary 1p share of the Company was as follows:



Diluted NAV per share: 206.95 pence

Undiluted NAV per share: 224.28 pence



2 FEBRUARY 2006








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