Net Asset Value(s)

Artemis Alpha Trust PLC
01 September 2006

ARTEMIS ALPHA TRUST PLC (the 'Company')

As at close of business on 31 August 2006, the Net Asset Value ('NAV') per

ordinary 1p share of the Company was as follows:



Diluted NAV per share: 197.47 pence

Undiluted NAV per share: 213.06 pence



1 SEPTEMBER 2006








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