Director Declaration

Ruffer Investment Company Limited
06 July 2007




'RUFFER INVESTMENT COMPANY LIMITED

6th July 2007

In accordance with the requirements of Listing Rule 9.6.14, Ruffer Investment
Company Limited announces that Christopher Spencer has been appointed as a
Director of:



Thames River Kingsway Plus Fund Limited


The Company Secretary

Northern Trust International Fund Administration Services (Guernsey) Limited

Trafalgar Court

Les Banques

St Peter Port

Guernsey

GY1 3QL

Tel: [phone]

Fax: [phone]'






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