Net Asset Value(s)

7 November 2012

                          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 31 October 2012 was 111.61p (30 September 2012: 106.92p per share).

The proportion of the Fund's NAV at 31 October 2012 represented by the ten
largest holdings, other investments and cash (including accruals), was as
follows:

Top ten holdings              Pence per share  Percentage of investee equity 
                                                           held              
                                                                             
TT Electronics plc                 16.7                    5.1%              
                                                                             
Sutton Harbour Holdings plc        11.3                    27.0%             
                                                                             
Norcros plc                         9.5                    8.1%              
                                                                             
Northgate plc                       8.4                    1.5%              
                                                                             
Devro plc                           8.2                    0.9%              
                                                                             
API Group plc                       8.1                    8.8%              
                                                                             
Smiths News plc                     6.6                    1.4%              
                                                                             
Tribal Group plc                    6.4                    4.4%              
                                                                             
N Brown Group plc                   5.5                    0.3%              
                                                                             
Renishaw plc                        5.1                    0.2%              
                                                                             
Total of ten largest holdings      85.8                                      
                                                                             
Other investments                  15.8                                      
                                                                             
Cash and accruals                  10.0                                      
                                                                             
Total NAV                          111.6                                     

For further enquiries please contact:

Crystal Amber Fund Limited
William Collins (Chairman)
Tel: [phone]

Merchant Securities Limited - Nominated Adviser
David Worlidge/Simon Clements
Tel: [phone]

Numis Securities Limited - Broker
Nathan Brown/Hugh Jonathan
Tel: [phone]

Crystal Amber Advisers (UK) LLP - Investment Adviser
Richard Bernstein
Tel: [phone]