Holding(s) in Company

Ruffer Investment Company Limited
30 November 2007


TR-1i: NOTIFICATION OF MAJOR INTERESTS IN SHARES


1. Identity of the issuer or the underlying issuer of existing       Ruffer Investment Company
shares to which voting rights are attached ii:                       Limited

2. Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

An acquisition or disposal of financial instruments which may result in the
acquisition of shares already issued to which voting rights are attached                

An event changing the breakdown of voting rights                                       Event
                                                                                      (Partial
                                                                                       redemption
                                                                                       of
                                                                                       shares
                                                                                       
3. Full name of person(s) subject to the notification obligation     Ruffer LLP
iii:                                                                 

4. Full name of shareholder(s) (if different from 3.) iv:

5. Date of the transaction and date on which the threshold is        29-Nov-07
crossed or reached v:                                               

6. Date on which issuer notified:                                    30-Nov-07

7.
Threshold(s)
that is/are
crossed or
reached:                                                                                     26%

8. Notified details:




A: Voting rights attached to shares

Class/type of    Situation previous to the Resulting situation after the triggering transaction
shares           Triggering transaction    vii
                 vi

if possible      Number of    Number of    Number of    Number of voting      % of voting
using the ISIN   Shares       Voting       Shares       rights ix             rights
CODE                          Rights      
                              viii                      
                                           Direct       Direct x     Indirect Direct   Indirect
                                                                     xi      

GB00B01CS46      23,879,155   23,879,155   23,879,155   23,879,155        -     26.8          -


Subtotal A       23,879,155   23,879,155   23,879,155   23,879,155        -     26.8          -

(based on
aggregate voting
rights)



B: Financial Instruments

Resulting situation after the triggering transaction xii
Type of financial             Expiration   Exercise/Conversion       Number of voting  % of
instrument                    date xiii    Period/ Date xiv          rights that may   voting
                                                                     be acquired if    rights
                                                                     the instrument is 
                                                                     exercised/
                                                                     converted.


Subtotal B (in relation to all expiration dates)



Total (A+B)                                             number of voting      % of voting
                                                        rights                rights
                                                        
                                                                 23,879,155                  26%




9. Chain of controlled undertakings through which the voting rights and/or the financial
instruments are effectively held, if applicable xv:

n/a


Proxy Voting:                                                        n/a

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:                                          None

14. Contact name:                                                    Louise Ellis

15. Contact
telephone
number:                                                              020 7963 8146




Annex to Notification Of Major Interests In Shares XVI


A: Identity of the person or legal entity subject to the notification obligation


Full name (including legal form for legal entities)     Ruffer LLP

Contact address (registered office for legal entities)  80 Victoria Street
                                                        London SW1E 5JL

Phone number                                            020 7963 8146

Other useful information (at least legal representative Louise Ellis, Compliance Officer
for legal persons)                                      


B: Identity of the notifier, if applicable xvii


Full name (including legal form for legal entities)     Ruffer LLP

Contact address (registered office for legal entities)  80 Victoria Street
                                                        London SW1E 5JL

Phone number                                            020 7963 8146

Other useful information (e.g. functional relationship  Louise Ellis, Compliance Officer
with the person or legal entity subject to the          
notification obligation)


C: Additional information

Our last TR1 disclosure was on 20 April 2007, when we held 22% of voting rights. 16,987,371
shares were redeemed yesterday (29 November 2007), therefore changing the total shares in issue.
Ruffer did not redeem any shares and as a result of the change in total shares in issue, we how
hold 26% of voting rights.



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