Net Asset Value(s)

Ruffer Investment Company Limited
01 November 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     £1.156   B018CS4        01 November 2005

 N.B. The NAV is inclusive of £0.003 revenue per share.

FUND NAME                          NAV      SEDOL        NAV DATE
Ruffer Investment Company Limited  £0.976   B0DWPC9      01 November 2005
Class C

N.B. The NAV is inclusive of £0.002 revenue per share.


Valuation as at date: 31 October 2005
Date: 01 November 2005


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