Net Asset Value(s)

Ruffer Investment Company Limited
12 September 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    £1.145   B018CS4        12 September 2005

N.B. The NAV is inclusive of £0.000 revenue per share.

This prices is Ex Dividend

Valuation as at date: 09 September 2005
Date: 12 September 2005

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited
 
Sean Murray 44 (0)1481 745311




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