Dividend Declaration

Ruffer Investment Company Limited
18 September 2007



                                                               18 September 2007

                       Ruffer Investment Company Limited

                                (the 'Company')

                           Re: Dividend Announcement

The Directors of Ruffer Investment Company Limited have declared that an interim
dividend will be payable in respect of the year ended 30 June 2007 as follows:

Ex Date                     26 September 2007
Record Date                 28 September 2007
Pay Date                    12 October 2007
Dividend per Share          1.25 pence (Sterling)

All Enquiries:

Sue Baines
Northern Trust International Fund Administration Services (Guernsey) Limited
PO Box 255
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL

Tel: [phone]
Fax: [phone]


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