Net Asset Value(s)

Ruffer Investment Company Limited
05 June 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         £1.203   B018CS4         02 June 2006
 N.B. The NAV is inclusive of £0.011 revenue per share.

Valuation as at date: 02 June 2006
Date: 05 June 2006

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Sean Murray 44 (0)1481 745311




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