MAJEDIE INVESTMENTS PLC

The unaudited consolidated net asset value of the Ordinary shares of the
Company at the close of business on 17 January 2014 was as follows:

With debentures at par value: 244.18 pence per share

The debentures at fair value: 226.63 pence per share

Following the announcement on 13 January the NAV reflects a write down for
Javelin Capital LLP of £1.8m and an uplift for the sale of shares in Majedie
Asset Management Limited of £0.9m.

The net asset value published is on a cum-income basis (calculated using income
and expenditure estimates). Additionally the fair value of the debentures has
been estimated by reference to the redemption yields of a similar company's
debt instrument, with an appropriate margin spread added.



20 January 2014