Quarterly Net Asset Value

7 July 2009

                          CRYSTAL AMBER FUND LIMITED                           

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

                           QUARTERLY NET ASSET VALUE                           

Crystal Amber Fund announces that its unaudited net asset value on 30 June 2009
was 114.21p per share, compared with 100.01p per share at 31 March 2009.

The Company's shares were admitted to trading on AIM on 17 June 2008 and its
net asset value per share is calculated quarterly. The initial unaudited net
asset value at 30 June 2008, reflecting the costs of flotation, was 95.05p per
share.

William Collins, Chairman of Crystal Amber Fund, commented:

"The Company's first year has included periods of extreme turmoil and
volatility in the global economy and markets. Although the Company does not
attempt to track any index, the FTSE 250 Index, which includes many of the
stocks we monitor, fell by 23 per cent over the period from Crystal Amber
Fund's listing to 30 June 2009. Against this background, we are pleased to
report a further rise in our net asset value."

"We are continuing to engage in discussion with our investee companies, in
keeping with the brief set out in the admission document, as we build a focused
portfolio of carefully targeted investments. No doubt there are further
challenges ahead; we are confident that we will be able to meet these
challenges."

For further enquiries please contact:

Crystal Amber Fund Limited

William Collins (Chairman)

Tel: [phone]

John East & Partners Limited, a subsidiary of Merchant Securities Plc

David Worlidge/Bidhi Bhoma

Tel: [phone]