Net Asset Value(s)

Artemis Alpha Trust PLC
19 October 2005

ARTEMIS ALPHA TRUST PLC (the 'Company')

As at close of business on 18 October 2005, the Net Asset Value ('NAV') per

ordinary 1p share of the Company was as follows:



Undiluted NAV per share: 191.26 pence

Diluted NAV per share: 179.04 pence



19 OCTOBER 2005








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