Net Asset Value(s)

Ruffer Investment Company Limited
11 December 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      £1.207      B018CS4      08 December 2006


NB The NAV is inclusive of £0.010 revenue per share

Valuation as at date: 08 December 2006

Date: 11 December 2006


Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Sean Murray 44 (0)1481 745311



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