Net Asset Value(s)

Artemis Alpha Trust PLC
02 December 2005

ARTEMIS ALPHA TRUST PLC (the 'Company')

As at close of business on 1 December 2005, the Net Asset Value ('NAV') per

ordinary 1p share of the Company was as follows:



Undiluted NAV per share: 184.88 pence

Diluted NAV per share: 173.66 pence



2 DECEMBER 2005








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