LEI: 213800L5751QTTVEA774

3 July 2020

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 £1.57261 as at 19 June 2020. As at 19 June 2020, there were 59,481,459* ordinary shares and 27,340,367 exchange shares in issue.

As at 19 June 2020 the closing mid share price of an ordinary share in the Company was £0.9650 and represented a discount of 38.64% to the net asset value per ordinary share.

Historic Performance

Prepared on the following basis:

* As at 19 June 2020, 303,232 ordinary shares were held by Marwyn Value Investors L.P., acquired under the Company's share buyback scheme and for the purposes of the estimated net asset value per ordinary share, have been treated as cancelled.

** 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