Net Asset Value(s)

Ruffer Investment Company Limited
10 October 2005


                       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       £1.172     B018CS4        10 October 2005

N.B. The NAV is inclusive of £0.000 revenue per share.

This price is Ex Dividend

Valuation as at date: 07 October 2005
Date: 10 October 2005

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Sean Murray 44 (0)1481 745311




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