Redemption facility and share buy backs

Redemption facility and share buy backs

The Board  of  Advance  Focus  Fund Limited  announces  that  as  the
Company's  redeemable  preference  shares  ("Shares")  traded  at  an
average discount of 0.2%  to net asset value  during the period  from
the commencement of trading of the  Company's new shares on 27  April
2005 to  30 September  2005,  the facility  to redeem  the  Company's
Shares on 28 February 2006 will not be invoked.

In order to  enhance market  liquidity the directors  of the  Company
have resolved that until 28 February 2006 Shares will, if  available,
be bought back in the market for cancellation at a 3% discount to net
asset value.  As a  complementary measure, at the forthcoming  annual
general meeting the directors will also seek shareholder approval  to
issue new shares.

The Company presently has  authority to buy back  up to 2,133,370  of
the redeemable preference shares in issue.




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