Net Asset Value(s) - Replace

Artemis Alpha Trust PLC
05 May 2006



ARTEMIS ALPHA TRUST PLC (the 'Company')

The issuer advises that the following replaces the net asset value ('NAV')
announcement released erroneously on 5 May 2006 at 13:21 under RNS Number 5254C.



Due to an administrative error, the undiluted NAV per share was stated as 227.12
pence and the diluted NAV per share was stated at 248.20 pence. These figures
should however have stated an undiluted NAV per share of 248.20 pence and a
diluted NAV per share of 227.12 pence.


All other details remain the same and the fully corrected version is shown
below:



As at close of business on 4 May 2006, the NAV per ordinary 1p share of the

Company was as follows:



Undiluted NAV per share: 248.20 pence

Diluted NAV per share: 227.12 pence



5 MAY 2006








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