Net Asset Value(s)

Artemis Alpha Trust PLC
19 January 2006

ARTEMIS ALPHA TRUST PLC (the 'Company')

As at close of business on 18 January 2006, the Net Asset Value ('NAV') per

ordinary 1p share of the Company was as follows:



Diluted NAV per share: 195.58 pence

Undiluted NAV per share: 210.82 pence



19 JANUARY 2006








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