Net Asset Value(s)

Marwyn Value Investors II Ltd
12 January 2007


12 January 2007



                       Marwyn Value Investors II Limited

                       Net Asset Value per Ordinary Share



The board of directors of Marwyn Value Investors II Limited (the 'Company')
today announce that the estimated net asset value per ordinary share of the
Company based on the estimated value of the Marwyn Neptune Fund LP is £1.041 as
at 31 December 2006. This has not been adjusted for any potential warrant
exercise dilution.



Warrant Summary


                                 Number    Exercise Price    Subscription Period

Series One Warrants          16,500,000             £1.15         5 October 2008

Series Two Warrants          16,500,000             £1.30         5 October 2009


As at 31 December 2006, the share price of an ordinary share in the Company
represented a discount of 0.1% to the net asset value per ordinary share.


The share price of an ordinary share in the Company is currently below the
exercise price for the Series One Warrants and the Series Two Warrants.



Historic Performance


2006             Estimated Undiluted NAV (£)             Movement over Month (%)

October                               0.980                                   -
November                              0.992                                  1.2
December                              1.041                                  4.9



Enquiries to:


Fortis Fund Services (Guernsey) Limited
PO Box 119
Martello Court
Admiral Park
St Peter Port
Guernsey GY1 3HB



                      This information is provided by RNS
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