NAV Announcement

Marwyn Value Investors II Ltd
11 January 2008


                       Marwyn Value Investors II Limited

                       Net Asset Value per Ordinary Share


The board of directors of Marwyn Value Investors II Limited (the 'Company')
today announce that the estimated net asset value per ordinary share of the
Company based on the estimated value of the Marwyn Neptune Fund LP is £1.251 as
at 31 December 2007. This has not been adjusted for any potential warrant
exercise dilution.


Warrant Summary


                        Number         Exercise Price       Subscription Period

Series One Warrants   16,500,000           £1.15               5 October 2008

Series Two Warrants   16,500,000           £1.30               5 October 2009


As at 31 December 2007, the share price of an ordinary share in the Company
represented a discount of 22.12% to the net asset value per ordinary share.

As at 31 December 2007, the share price of an ordinary share in the Company was
below the exercise price for the Series One Warrants and the Series Two
Warrants.


Historic Performance

                         Estimated            Movement over         Year to date 
                      Undiluted NAV(£)           Month(%)            movement(%)
   2007
December                   1.251                   1.2                    20.1
November                   1.236                   0.1                    18.8
October                    1.235                   4.3                    18.7
September                  1.184                   1.0                    13.8
August                     1.173                  -4.2                    12.7
July                       1.225                   0.2                    17.6
June                       1.222                  -2.3                    17.4
May                        1.250                   0.0                    20.1
April                      1.250                   6.2                    20.1
March                      1.178                   5.2                    13.1
February                   1.120                   3.7                     7.6
January                    1.080                   3.8                     3.8



Enquiries to:

Fortis Fund Services (Guernsey) Limited
PO Box 119
Martello Court
Admiral Park
St Peter Port
Guernsey GY1 3HB



                      This information is provided by RNS
            The company news service from the London Stock Exchange