TAPESTRY INVESTMENT COMPANY PCC LIMITED

Tapestry - NAV Estimate

As  at the  close of  business on  15th January 2010 the Company's estimated Net
Asset Value per Share was 101.2943 pence.

This  valuation,  which  has  been  prepared  in  good  faith  by  the Company's
investment  manager,  is  for  information  purposes  only  and  is based on the
unaudited  estimated valuations supplied to  the Company's investment manager by
investee  funds,  their  managers,  investment  advisers  or  administrators. In
addition,  some of those  estimates may not  have been supplied  on a regular or
timely  basis with the result  that the values of  such investments are based on
the  latest available estimates which may relate  to a date some time before the
date  set out  above. In  respect of  the estimated  Net Asset Value as at 15th
January 2010, the Company received estimated valuations as at that date from 10
of  the  Company's  23 underlying  investment  managers.  Although the Company's
investment manager has evaluated the information and data provided to it, it has
not  confirmed  the  completeness  or  accuracy  of  such  information  or data.
Accordingly,  no reliance should be placed on  the estimated Net Asset Value and
it  should only be  taken as an  indicative guide. Valuations  and estimates are
unaudited  and may  not comply  with generally  accepted accounting or valuation
principles.  The Net Asset Value is the value  at one point in time and does not
reflect any change in value since that time.

Enquiries:

Company Secretary

01481 727111


Kleinwort Benson (Channel Islands) Fund
Services Limited



[HUG#1377183]