Net Asset Value(s)

Ruffer Investment Company Limited
26 June 2007




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


FUND NAME                     NAV        SEDOL          NAV DATE
Ruffer Investment Co Ltd        £1.173   B018CS4        22nd June 2007

The NAV is inclusive of £0.01 revenue per share
Valuation as at date: 22nd June 2007
Date: 26th June 2007
Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Sean Murray 44 (0)1481 745311



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