Net Asset Value(s)

Ruffer Investment Company Limited
08 August 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      £1.136     B018CS4        08 August 2005

N.B. The NAV is inclusive of £0.003 revenue per share.

Valuation as at date: 05 August 2005
Date: 08 August 2005

Enquiries:

Guernsey International Fund Managers Limited

Sean Murray 44 (0)1481 745311


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