Additional Listing

Ruffer Investment Company Limited
26 September 2005


   NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES,
                           CANADA, AUSTRALIA OR JAPAN

                       RUFFER INVESTMENT COMPANY LIMITED
 (a closed-ended investment company incorporated in Guernsey with registration
                                 number 41996)

        PLACING AND OFFER FOR SUBSCRIPTION OF £67.5 MILLION OF C SHARES

Ruffer Investment Company Limited ('the Company') announces that it has issued,
subject to admission to the Offical List of the Financial Services Authority
(the 'FSA') and to trading on the London Stock Exchange's (the 'LSE') market for
listed securities, 67.5 million C shares.
54,322,500 C Shares have been issued pursuant to the Placing and 13,177,500 C
Shares have been issued pursuant to the Offer for Subscription.
Application has been made for the C Shares to be admitted to the Official List
of the FSA and to trading on the LSE's market for listed securities at 8.00 a.m.
on 29 September 2005.

Timetable
Dealings in C Shares commence                         8am on 29 September 2005
Crediting of CREST accounts pursuant to the Issue     29 September 2005
Share certificate despatched week commencing          3 October 2005
C Shares expected to convert into Shares              By end October 2005

Enquiries

Ruffer LLP

Jonathan Ruffer 020 7529 7900
Steve Russell 020 7529 7900

UBS Limited

Charlie Ricketts 020 7568 4781
Will Rogers 020 7568 2939

This announcement is not for distribution directly or indirectly in or into the
United States, Canada, Australia or Japan. This announcement does not constitute
an offer to sell or issue or the solicitation of an offer to buy or acquire C
Shares in the capital of Ruffer Investment Company Limited in the United States,
Canada, Australia or Japan or any jurisdiction in which such an offer or
solicitation is unlawful. The C Shares in Ruffer Investment Company Limited
referred to in this announcement have not been and will not be registered under
the Securities Act and may not be offered or sold within the United States
absent registration or an exemption from registration. No public offering of
securities will be made in the United States, Canada or Australia or Japan.

This announcement has been communicated by Ruffer Investment Company Limited
which is authorised and regulated in the United Kingdom by the Financial
Services Authority and does not constitute an offer to sell or a solicitation of
an offer to purchase any securities. The price of shares and the income from
them may go down as well as up and investors may not get back the full amount
invested on disposal of the shares. There is no guarantee that the market price
of shares in Ruffer Investment Company Limited will fully reflect their
underlying NAV.

UBS Limited is acting exclusively for Ruffer Investment Company Limited and no
one else in connection with the Placing and Offer for Subscription and will not
be responsible to anyone other than Ruffer Investment Company Limited for
providing the protections afforded to clients of UBS Limited nor for providing
any advice in relation to the Placing and Offer for Subscription or any other
matters referred to in this press announcement.




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