Net Asset Value(s)

8 October 2013

                          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 September 2013 was 148.11p (31 August: 141.21p per share).

The proportion of the Fund's NAV at 30 September 2013 represented by the ten
largest holdings, other investments and cash (including accruals), was as
follows:

Top ten holdings              Pence per share   Percentage of    Stock return  
                                               investee equity     over the    
                                                    held         quarter (with 
                                                                   dividends   
                                                                  reinvested)  
                                                                               
Tribal Group plc                   11.1             4.4%             12.9%     
                                                                               
TT Electronics plc                 10.7             2.6%             26.5%     
                                                                               
Sutton Harbour Holdings plc         9.3             28.7%            6.3%      
                                                                               
Norcros plc                         9.3             5.7%             22.4%     
                                                                               
API Group plc                       8.6             11.6%            -3.4%     
                                                                               
4imprint Group plc                  6.9             3.4%             9.7%      
                                                                               
Smiths News plc                     6.7             1.3%             35.5%     
                                                                               
Devro plc                           6.7             0.9%             12.4%     
                                                                               
Thorntons plc                       6.3             6.9%             5.1%      
                                                                               
Northgate plc                       4.9             0.6%             29.2%     
                                                                               
Total of ten largest holdings      80.5                                        
                                                                               
Other investments                  33.4                                        
                                                                               
Cash and accruals                  34.2                                        
                                                                               
Total NAV                          148.1                                       

Investment Adviser's quarterly commentary on the portfolio

Over the quarter to 30 September, NAV per share increased by 11.3%. The Fund
has a June year end. Since 1 January 2013, NAV per share has risen by 23.3%, or
23.8% including the dividend paid in August.

The top three positive contributors to NAV growth were TT Electronics plc (2.5%
contribution), Norcros plc (1.7%) and Smiths News plc (1.6%). The only
detractor has been API Group plc (-0.5%). Over the period, the Fund began
accumulating positions in five companies.

TT Electronics plc (`TT')

TT's share price rose by 26.5% over the quarter, recovering from a 13% decline
in the previous quarter, as the market's view of TT's cyclical exposure
improved. Following this share price strength, the Fund reduced its holding in
TT by 16.5%. Whilst mindful of the upside from production volume increases, the
Fund remains focused on the opportunity for cost reduction in TT´s production
footprint, as outlined in the company's investor day.

Sutton Harbour Holdings plc ("Sutton Harbour")

Over the period, the share price appreciated by 6.3%. Sutton Harbour finished
the construction and opened its new King Point Marina at Millbay on budget and
on schedule. Sutton Harbour announced the appointment of its new chairman,
Graham Miller, which the Fund welcomes.

Norcros plc ("Norcros")

Norcros returned 22.4% over the period, as the share price re-rated from a
lowly 7.5x operating profits. Over the period, Prism Cement, the largest
shareholder, disposed of its 25% stake in the company, which was met with
strong institutional demand. Following share price strength, the Fund reduced
its holding in Norcros by 22.7%. An investor day detailed the company's
strategy to double revenues in five years, whilst maintaining overseas exposure
and returns on capital.

Further comments on the main investments in the portfolio can be found on the
Fund's website www.crystalamber.com

Share buy-back

Over the quarter, the Fund purchased 870,000 of its shares at an average price
of 136.6p, which are held as treasury shares together with the 4,492,000 shares
purchased previously. The average cost of the 5,362,000 shares is 118.7p per
share. The share price currently trades at a discount of two per cent. to the
last published NAV. Following today's NAV publication, the discount is now 6.5
per cent.

Cash resources

Over the quarter, cash and accruals increased from 10p per share to 34.2p,
principally as a result of the Fund's successful £26.5m fund raise.

For further enquiries please contact:

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

Sanlam Securities UK 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]