Net Asset Value(s)

Ruffer Investment Company Limited
19 February 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     £1.211      B018CS4      16 February 2007


NB The NAV is inclusive of £0.015 revenue per share

Valuation as at date: 16 February 2007

Date: 19 February 2007


Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Sean Murray 44 (0)1481 745311





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