Net Asset Value(s)

Ruffer Investment Company Limited
30 August 2005


                       RUFFER INVESTMENT COMPANY LIMITED
 (a closed-ended investment company incorporated in Guernsey with registration
                                 number 41996)


FUND NAME                          NAV     SEDOL              NAV DATE
Ruffer Investment Co Ltd        £1.139   B018CS4        30 August 2005

N.B. The NAV is inclusive of £0.004 revenue per share.

Valuation as at date: 26 August 2005
Date: 30 August 2005

Enquiries:

Guernsey International Fund Managers Limited

Sean Murray 44 (0)1481 745311




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