30 November 2017

Marwyn Value Investors Limited

Net Asset Value per Ordinary Share

The board of directors of Marwyn Value Investors Limited (the "Company") today announces that the estimated net asset value per Ordinary Share of the Company based on the estimated value of its interests in Marwyn Value Investors L.P. is £2.20036 as at 17 November 2017. As at 17 November 2017, there were 70,771,826 Ordinary Shares and 16,050,000 exchange shares in issue.

As at 17 November the closing mid share price of an Ordinary Share in the Company was £1.5550 and represented a discount of 29.33% to the net asset value per Ordinary Share.

Historic Performance

Prepared on the following basis:

* The inception to date movement is based on the combined weighted average NAV of Marwyn Value Investors I, II and B shares prior to their amalgamation, using the conversion ratio published on 17 April 2008.

** The total return inception to date movement is based on the reinvestment of dividends paid to shareholders into the Company and is calculated on a cum-income basis.

Enquiries to:

Axio Capital Solutions Limited

One Waverley Place

Union Street

St Helier

Jersey

JE1 1AX