Board Appointments

Close AllBlue Fund Limited
06 May 2008

Close AllBlue Fund Limited

6 May 2008

Close AllBlue Fund Limited (the 'Company')

Board appointments

Further to the Company's announcement of its proposed migration to the Official
List, released earlier today, the Company is pleased to announce the
appointments of Andrew Dodd and Jonathan Hooley to the Board as non-executive
directors, with effect from 7 May 2008.

Brief details of the experience of each of the new directors are set out below:

Andrew Michael Dodd (aged 36) is the Chief Financial Officer of BlueCrest
Capital Management Limited. Prior to joining BlueCrest Capital Management
Limited he was a managing director at Goldman Sachs International from 2004 to
2006. He joined Goldman Sachs in 1993, where he specialised in advising
insurance, banking and asset management clients with respect to mergers and
acquisitions, capital markets, structured finance and asset/liability
management. During his time at Goldman Sachs, Andrew advised BlueCrest on the
sale of 25 per cent. of the business to Man Group plc. He holds a BA in
Philosophy, Politics and Economics from Oxford University.

Jonathan Grenfell Hooley (aged 52) is the Chairman of the Channel Islands Stock
Exchange as well as holding certain other non-executive directorships. He
retired as the senior partner of KPMG in the Channel Islands on 30 September
2007. His career with KPMG spanned some 30 years. He was a tax partner with KPMG
for over 20 years, firstly in London where he was an international tax partner
specialising in banking and other financial sector work and subsequently in
Guernsey where he has been responsible for advising a large number of investment
funds. Mr Hooley has been a member of the States of Guernsey Fiscal Policy
Technical Group for some seven years and continues to act as an adviser to the
States of Guernsey on external tax matters. Mr Hooley is both a Chartered
Accountant and a Chartered Tax Adviser. He is also a member of the Offshore
Advisory Committee of the Association of Investment Companies.

Mr Dodd is an employee of BlueCrest, the investment manager of AllBlue, and will
not therefore be independent.

Mr Dodd has, in the past 5 years, been a director of the following companies:
Current Directorships                                 Previous Directorships
AgFe Group Limited                                    None
AgFe Management Limited
BlueCrest Capital Management (Ireland) Limited
BlueCrest Capital Management LP
BlueCrest Capital Management Cayman LP
BlueCrest Capital Management Cayman Limited

Mr Hooley has, in the past 5 years, been a director of the following companies:
Current Directorships                         Previous Directorships
The Channel Islands Stock Exchange, LBG       KPMG Channel Islands Limited
Princess Private Equity Holdings Limited      KPMG Channel Islands Partnership
Princess Private Equity Subholding Limited    KPMG Properties Limited
Aries Investments Limited                     KPMG Secretaries Limited
Epple Investments Limited                     Edgefield (Funding) Limited
                                              Winster Nominees Limited
                                              Lyth Nominees Limited

Mr Dodd and Mr Hooley have confirmed that there is no further information to be
disclosed in relation to Schedule 2 paragraph (g) of the AIM Rules.

For further information please contact:


Anson Fund Managers Limited
Secretary
Tel: [phone]

Collins Stewart Europe Limited (Nomad to the Company)
Hugh Field
Tel: [phone]

E&OE in transmission


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