Net Asset Value(s)

Ruffer Investment Company Limited
31 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 Ltd      £1.230   B018CS4      28th December 2007


The NAV is inclusive of £0.02 revenue per share

Valuation as at date: 28th December 2007

Date: 31st December 2007

Enquiries:


Northern Trust International Fund Administration Services (Guernsey) Limited


Harry Rouillard 44 (0)1481 745315



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