RNS Number:6385U
Metage Special Emerging Markets Fnd
26 January 2004

The Metage Special Emerging Markets Fund Limited announces that at the close of
business on the 23rd of January, 2004 :-

The Undiluted estimated NAV per ordinary share was USD 54.73

The Fully Diluted estimated NAV per ordinary share was USD 48.39

The next NAV produced will be for close of business on 30th January 2004


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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