IRIS Dcg Iris Stg

DCG IRIS Limited (the `Company')

Estimated Net Asset Values


As at 31 July 2014, the estimated net asset value of the Company's ordinary
shares is as follows:-

Ordinary Shares



Share Class Estimate NAV   Final NAV      Performance       MTD      2014 YTD
                                                        Performance Performance
            31 July 2014  30 June 2014       Since        (Total      (Total
                                                          Return)     Return)
                                         25 July 2014

Sterling      97.74pXD       98.58p         +0.08%        +0.42%      +1.79%
Shares

This valuation, which has been prepared in good faith by the Company's
administrator, is for information purposes only and is based on the unaudited
estimated valuation supplied by the administrators of the Company's underlying
investment. Both a weekly estimate and a monthly valuation of the underlying
investment may be produced as at valuation dates which do not coincide with
valuation dates for the Company, may be based on a valuation provided as of a
significantly earlier date, may differ materially from the actual value of the
Company's portfolio and is unaudited or may be subject to little verification
or other due diligence and may not comply with generally accepted accounting
practices or other generally accepted valuation principles. The Company's
administrator may not have sufficient information to confirm or review the
completeness or accuracy of information provided by the administrators of the
Company's investments.

Other risk factors which may be relevant to this valuation are set out in the
Company's prospectus dated 12 November 2012.

ISIN:

Sterling Ordinary Shares:          GG00B7DZCC65

NAV Enquiries:

Harry Rouillard                                        Tel: +44 (0)1481 745315
Northern Trust International Fund
Administration Services (Guernsey) Limited