Dividend Declaration

Ruffer Investment Company Limited
27 February 2008


                                                                27 February 2008

                       Ruffer Investment Company Limited

                                (the 'Company')

Re: Dividend Announcement

The Directors of Ruffer Investment Company Limited have declared that an interim
dividend will be payable in respect of the year ended 30 June 2008 as follows:

          Ex Date                05 March 2008
          Record Date            07 March 2008
          Pay Date               28 March 2008
          Dividend per Share     1.25 pence (Sterling)

All Enquiries:

Fraser Hiddelston
Northern Trust International Fund Administration Services (Guernsey) Limited
PO Box 255
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL
Tel: [phone]
Fax: [phone]

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