Net Asset Value(s)

Ruffer Investment Company Limited
05 December 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           £1.225          B018CS4        30th November
          Ltd                                                      2007


The NAV is inclusive of £0.02 revenue per share
Valuation as at date: 30th November 2007
Date: 4th December 2007

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Harry Rouillard     44 (0)1481 745315



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