Director Declaration

Ruffer Investment Company Limited
17 May 2007



RUFFER INVESTMENT COMPANY LIMITED


17th May 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 2X Currency Alpha 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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