Net Asset Value(s)

Artemis Alpha Trust PLC
27 January 2006

ARTEMIS ALPHA TRUST PLC (the 'Company')

As at close of business on 26 January 2006, the Net Asset Value ('NAV') per

ordinary 1p share of the Company was as follows:



Diluted NAV per share: 200.88 pence

Undiluted NAV per share: 217.10 pence



27 JANUARY 2006








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