Net Asset Value(s)

Ruffer Investment Company Limited
08 January 2007






                       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          £1.196      B018CS4      05 January 2007


NB The NAV is inclusive of £0.012 revenue per share

Valuation as at date: 05 January 2007

Date: 08 January 2007

Enquiries:


Northern Trust International Fund Administration Services (Guernsey) Limited


Sean Murray 44 (0)1481 745311



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