Net Asset Value(s)

RNS Number : 2173Z

Marwyn Value Investors Limited

17 September 2009

Marwyn Value Investors Limited

Net Asset Value per Ordinary Share

The board of directors of Marwyn Value Investors 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 £0.850 as at 11

September 2009. This has not been adjusted for any potential warrant exercise dilution.

Warrant Summary

Number Exercise Price Subscription Period

23,259,055 £1.15 30 September 2010

As at 11 September 2009 the share price of an ordinary share in the Company represented a discount of 33.0% to the net asset value per ordinary share.

As at 11 September 2009 the share price of an ordinary share in the Company was below the exercise price for the warrants.

Historic Performance

2009	Estimated Undiluted NAV (£)	Movement over Month (%)	Year to date Movement (%)
Sept 11	0.850	+2.3	+23.3
Sept 4	0.832	-0.1	+20.6
August 28	0.833	+1.7	+20.8
July 31 *	0.819	-7.6	+18.8
June 30	0.887	-2.1	+28.6
May 29	0.905	+24.1	+31.3
April 30	0.730	+8.4	+5.8
March 31	0.673	+2.4	-2.4
February 28	0.657	+1.1	-4.7
January 31	0.650	-5.7	-5.7
2008
December 31	0.689	-8.7	-44.9
November 30	0.755	-6.8	-39.6
October 31	0.811	-16.5	-35.2
September 30	0.972	-8.8	-22.4