Net Asset Value(s)

Ruffer Investment Company Limited
02 May 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     £1.190       B018CS4     30th April 2007


The NAV is inclusive of £0.007 revenue per share

Valuation as at date: 30th April 2007

Date: 01st May 2007

Enquiries:


Northern Trust International Fund Administration Services (Guernsey) Limited


Sean Murray 44 (0)1481 745311



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