Net Asset Value(s)

Ruffer Investment Company Limited
09 January 2006


                       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       £1.217    B018CS4        09 January 2006
 N.B. The NAV is inclusive of £0.005 revenue per share.


Valuation as at date: 06 January 2006
Date: 09 January 2006

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Sean Murray 44 (0)1481 745311




                      This information is provided by RNS
            The company news service from the London Stock Exchange
                   B