Possible issue of shares

FRM Credit Alpha Limited
10 January 2008



FRM Credit Alpha Limited


10 January 2008


The Board of FRM Credit Alpha Limited (the Company) announces that it is
considering issuing new shares in the Company. If at some point the Board
decides to proceed with an issue of new shares, details on the timing of such
issue will be disclosed.

For further information, please contact Tina Hugo or
Luke Burdess at Financial Risk Management on 020 7968 6000.



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