Net Asset Value(s)

RNS Number : 3132X

Marwyn Value Investors Limited

12 August 2009

Marwyn Value Investors Limited

Net Asset Value per Ordinary Share

The board of directors of Marwyn Value Investors Limited ('the Company') today announce that the estimated net asset value per ordinary share of the Company based on the estimated value of the Marwyn Neptune Fund LP is £0.819 as at 31

July 2009. This has not been adjusted for any potential warrant exercise dilution.

Warrant Summary

Number Exercise Price Subscription Period

23,259,055 £1.15 30 September 2010

As at 31 July 2009 the share price of an ordinary share in the Company represented a discount of 29.2 % to the net asset value per ordinary share.

As at 31 July 2009 the share price of an ordinary share in the Company was below the exercise price for the warrants.

Historic Performance

2009	Estimated Undiluted NAV (£)	Movement over Month (%)	Year to date Movement (%)
July *	0.819	-7.6	+18.8
June	0.887	-2.1	+28.6
May	0.905	+24.1	+31.3
April	0.730	+8.4	+5.8
March	0.673	+2.4	-2.4
February	0.657	+1.1	-4.7
January	0.650	-5.7	-5.7
2008
December	0.689	-8.7	-44.9
November	0.755	-6.8	-39.6
October	0.811	-16.5	-35.2
September	0.972	-8.8	-22.4
August	1.065	-0.6	-14.9