Net Asset Value(s)

Advance Focus Fund Limited announces that its unaudited Net Asset
Value (NAV) including income accrued as at the close of business on
30 December 2005 was £30.394 million, representing a NAV of 120.91
pence per share.
The investments in the Company's portfolio have been valued at mid
market price in the above calculations.

To comply with the new guidelines, the investments in the Company's
portfolio are now to be valued at the prevailing bid price at the
close of business on valuation days. Using this method the Net Asset
Value at the close of business on 30 December 2005 was £30.259
millions, representing a NAV of 120.37p per share.

Further, using the bid price, the Net Asset Value at the close of
business on 30 September (the Company's year end) would have been
£29.884 millions, representing a NAV of 111.27p per share.

In future the portfolio will be valued on bid prices.

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http://www.pro-asset.com/




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