Redemption Facility

Ruffer Investment Company Limited
16 October 2007





16 October 2007


Ruffer Investment Company Limited

Redemption Facility


As set out in the Company's prospectus the Directors of the Company have the
discretion to offer a redemption facility of up to 25 per cent. of the Company's
issued share capital (in the form of a tender offer) to investors after the
third anniversary of the Company's Admission and annually thereafter.

The first opportunity for the redemption facility to operate arises in November
2007 (subject to the resolution as to the continuation of the Company being
passed at the Annual General Meeting of the Company on 8 November 2007).

The Directors have, on this occasion, resolved to exercise their discretion to
offer a redemption facility for up to 25 per cent. of the Company's issued share
capital at the prevailing Net Asset Value per Share on the Redemption Date (less
the costs of redemption).

The Board intend to post a redemption notice to shareholders later this month
containing details of the redemption facility and the procedure for redeeming
shares. Detailed terms of the redemption facility are contained in the
prospectus published by the Company on 23 June 2004.




Expected timetable:

25 October    - Notice of Redemption Facility sent to shareholders
8 November    - Annual General Meeting
19 November   - Deadline for receipt of Redemption Notices
29 November   - Redemption Date




Enquiries:

Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
Tel: [phone]
Fax: [phone]



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