Holding(s) in Company

Ruffer Investment Company Limited
20 February 2007


                       RUFFER INVESTMENT COMPANY LIMITED

 (a closed-ended investment company incorporated in Guernsey with registration
                                 number 41996)




             Disclosure of Investment Manager's interest in shares

The Company has today been notified that Mr Jonathan Ruffer, one of the
Company's managers at Ruffer LLP, purchased 220,000 Redeemable Participating
Preference 0.01p shares of the Company on 20 February 2007 at a price of 115.5
pence per share, representing 0.207% of the Company's issued share capital. As a
result of this purchase, Mr Ruffer's holding has increased to 395,300 shares,
representing 0.373% of the Company's issued share capital.

This disclosure is being made in compliance with the Company's policy for full
disclosure of all changes to holdings by the individuals responsible for
managing the Company's investments at Ruffer LLP.




Northern Trust International Fund Administration Services (Guernsey) Limited


20 February 2007






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