Net Asset Value(s)

Ruffer Investment Company Limited
15 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            £1.191          B018CS4        11th May 2007
          Ltd


The NAV is inclusive of £0.007 revenue per share
Valuation as at date: 11th May 2007
Date: 14th May 2007

Enquiries:
Northern Trust International Fund Administration Services (Guernsey) Limited
Sean Murray 44 (0)1481 745311



                      This information is provided by RNS
            The company news service from the London Stock Exchange
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