Net Asset Value(s)

6 May 2011

                          CRYSTAL AMBER FUND LIMITED                           

                     ("Crystal Amber Fund" or the "Fund")                      

                            Monthly Net Asset Value                            

Crystal Amber Fund announces that its unaudited net asset value ("NAV") per
share on 30 April 2011 was 111.47p per share (31 March 2011; 100.71p per
share).

On 27 April 2011 Pinewood Shepperton plc ("Pinewood"), the Fund's largest
holding, announced a recommended cash offer by Peel Acquisitions (Pegasus)
Limited at 200p per share. If the offer completes it represents a potential
profit of £8.7 million for the Fund.

The proportion of the Fund's NAV at 30 April 2011 represented by the largest
five holdings, other investments and cash (including accrued dividends) was as
follows:


                                Pence per share      Percentage of equity held 
                                                                               
Pinewood Shepperton plc              46.1                       28.9           
                                                                               
Omega Insurance Holdings             10.4                       3.2            
Ltd                                                                            
                                                                               
PayPoint plc                          9.9                       1.9            
                                                                               
JJB Sports plc                        8.9                       7.1            
                                                                               
Forth Ports plc                       6.5                       0.5            
                                                                               
Total of five largest                81.8                                      
holdings                                                                       
                                                                               
Other investments                    19.9                                      
                                                                               
Cash                                  9.8                                      
                                                                               
Total NAV                            111.5                                     


For further enquiries please contact;

Crystal Amber Fund Limited

William Collins (Chairman)

Tel: [phone]

Merchant Securities Limited - Nominated Adviser & Joint Broker

David Worlidge / Simon Clements

Tel: [phone]

Numis Securities Limited - Joint Broker

Nathan Brown / Hugh Jonathan

Tel: [phone]

Crystal Amber Advisers (UK) LLP - Investment Adviser

Richard Bernstein

Tel: [phone]


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