Net Asset Value(s)

Ruffer Investment Company Limited
16 October 2006





                       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       £1.1804      B018CS4      13 October 2006


NB The NAV is inclusive of £0.006 revenue per share
Valuation as at date: 13 October 2006
Date: 16 October 2006


Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Sean Murray 44 (0)1481 745311



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