Final Results

Close AllBlue Fund Limited
03 April 2007

CLOSE ALLBLUE FUND LIMITED

PRELIMINARY ANNOUNCEMENT OF ANNUAL RESULTS

The directors announce the statement of annual results for the period ended 31
December 2006 as follows:-

BACKGROUND INFORMATION

Close AllBlue Fund Limited (the 'Company') is a closed-ended investment company
incorporated in Guernsey on 21 April 2006 with an unlimited life.  The Company
has three classes of shares in issue being Sterling Shares, Euro Shares and US$
Shares.  On 25 May 2006 all three classes were admitted to trading on AIM and
the Sterling Shares only were admitted to listing and trading on the Channel
Islands Stock Exchange.

INVESTMENT OBJECTIVE AND POLICY

The investment objective of the Company is to seek to provide consistent
long-term capital growth through an investment policy of investing substantially
all of its assets in AllBlue Limited ('AllBlue') or any successor vehicle of
AllBlue.  The proceeds raised from the issue of Sterling Shares are
substantially invested in the Sterling share class of AllBlue.  The proceeds
raised from the issue of Euro Shares are substantially invested in the Euro
share class of AllBlue. The proceeds raised from the issue of US$ Shares are
substantially invested in the US$ share class of AllBlue.

Investors in the Company are therefore offered an opportunity to participate
indirectly in the same investment portfolio as that of AllBlue.

Whilst hedging of currency exposure may occur within AllBlue, the Directors do
not intend that the Company will ever carry out any additional hedging
arrangements.

The Directors have authority to allot the authorised but unissued share capital
of the Company.

The Directors have shareholder approval to buy back up to 14.99% of each class
of Shares in issue on Admission and intend to seek annual renewal of this
authority from shareholders at each Annual General Meeting.

The Directors confirm that, as required by the AIM Rules, they will at each
Annual General Meeting of the Company seek Shareholder approval of its
investment objective and policy.


The Company's investments in AllBlue as at 31 December 2006 were:

               Nominal     *Valuation in       Valuation     Total Net Assets
INVESTMENT                  Local Currency         £                 %
                                                   
AllBlue        1,289,579     £137,752,831    £137,752,831         94.22%
Limited
Sterling
Shares

AllBlue           52,471     €5,723,515      £3,856,296            2.64%
Limited Euro
Shares

AllBlue           87,743     $9,836,851      £5,021,620             3.43%
Limited US $                                                   
Shares
                                            £146,630,747          100.29%
                                                              

* Source AllBlue Limited


CHAIRMAN'S STATEMENT FOR THE PERIOD ENDED 31 DECEMBER 2006

It is with great pleasure that I present to shareholders the first Annual Report
and Audited Financial Statements of the Company.  The Company's placing of
shares by Close Fund Management (Investments) Limited ('Close') closed on 18 May
2006.  I would like to express the Board's thanks to all shareholders for their
support of the placing as well as to Close for their assistance in the
successful launch of the Company.

Raising £144.3 million via the placing made this the largest capital raising at
that time in the UK quoted, funds of hedge funds sector, attracting a wide range
of investors including insurance companies, pension funds, private wealth
management groups and discretionary asset managers.  Your Board are committed to
the Company's shares remaining an attractive investment in the fund of hedge
fund sector and, in this regard, your Board is in active discussion with its
advisers to compare the Company's structure and share performance with current
and new listed offerings in the same sector.  If any adverse trend was seen to
be developing which could make the Company's shares uncompetitive or
unattractive, please be assured we will endeavour to address the issues
involved.  Obviously in certain instances our power to effect any change might
be limited or non existent.

The Company's rationale is to bridge the gap between single strategy hedge fund
managers and traditional fund of funds.  This has been achieved by the Company
investing substantially all of the monies raised by the issue of its Sterling,
Euro and US$ shares ('shares') in the corresponding share classes of AllBlue
Limited ('AllBlue'), a Cayman Island domiciled open-ended multi-strategy fund of
funds managed by BlueCrest Capital Management L.P. ('BlueCrest').  As a result,
shareholders currently gain access to a portfolio of diversified hedge fund
strategies managed by BlueCrest and other managers with close links to
BlueCrest.  Further funds may be added to AllBlue in due course at the
discretion of BlueCrest and AllBlue.

Close AllBlue Fund Limited is a company structured to allow shareholders access
to the investment management skills of BlueCrest without need of a high minimum
monetary investment, as is required for direct investment in AllBlue.  Coupled
with the ability to trade shares daily on AIM, the Board anticipates that these
features will continue to make the Company an attractive and rewarding
investment for shareholders over the years to come.

As the Company is a minority investor in AllBlue, your Board cannot direct the
investment policy of AllBlue.  However, AllBlue provides the Company with
regular information.  The Company publishes weekly and monthly net asset values
and monthly fact sheets based on information provided to the Company by
BlueCrest and AllBlue.

In addition BlueCrest provides the Company with a commentary on AllBlue for
inclusion in the Company's own interim and annual reports to shareholders.

The time of the placing coincided with a period of several months when global
markets experienced turbulence and drawdowns before equity markets then
recovered in the autumn of 2006.

The Board is comfortable with the performance of AllBlue over the period from
launch to 31 December 2006.

As the Board would have hoped, AllBlue demonstrated effective defensive
characteristics during the early months of the Company's life and, although the
net asset value of the Company fell during this time, the falls were limited and
the Company's share price traded at a premium to net asset value.

A recovery in the value of AllBlue in the autumn allowed the net asset value of
the Company to recover and then rise to new highs in the last three months of
2006.  This period saw relative stability in the share price of the Company.

The Company has seen an active secondary market in shares since launch, although
the Dollar and Euro classes have seen narrower liquidity than the Sterling
class, an inevitable development given the smaller asset bases of the Dollar and
Euro classes.

The Board has secured a facility from the Company's bankers to assist with the
buyback of shares should the Company's shares trade at a discount to net asset
value and if the Board believes that a buyback is warranted and is in the best
interests of shareholders.  The Board has the authority to buy back up to 14.99%
of the Company's issued share capital, subject to an annual renewal of this
authority by shareholders at the annual general meeting.

I look forward to reporting to you again in the Interim Report & Accounts at 30
June 2007 and thank you for your continued support.


Richard Crowder
Chairman


STATEMENT OF OPERATIONS
for the period from incorporation on 21 April 2006 to 31 December 2006



                                 Sterling        Euro         US$
                                    Share       Share       Share
                                    Class       Class       Class        Total
                                        £           €           $            £

Net movement in unrealised
appreciation on investments     5,461,831     172,515     417,851    5,791,376

Operating income                   79,725       1,439       4,402       83,033

Operating expenses               (799,681)    (32,589)    (57,224)    (852,094)
                                  

Gain before financing costs
and taxation                    4,741,875     141,365     365,029    5,022,315
                                   

Gain on ordinary activities
before taxation                 4,741,875     141,365     365,029    5,022,315

Taxation on ordinary                    -           -           -            -
activities                        

Net gain for the period
attributable to shareholders    4,741,875     141,365     365,029    5,022,315
                                   

                                Pence (£)    Cent (€)    Cent ($)
Earnings per share for the
period - Basic and Diluted           3.51        2.49        3.79


In arriving at the results for the financial period, all amounts above relate to
continuing operations.


There are no recognised gains or losses for the period other than those
disclosed above.



BALANCE SHEET
as at 31 December 2006



                              Sterling         Euro          US$
                                 Share        Share        Share
                                 Class        Class        Class         Total
                                     £            €            $             £
FIXED ASSETS
Financial assets
designated as fair
value through profit or   
loss                       137,752,831    5,723,515    9,836,851   146,630,747  

CURRENT ASSETS
Debtors                         13,718          583        1,016        14,629
Cash at bank                     1,100           23           88         1,160
                              
                                14,818          606        1,104        15,789

CURRENT LIABILITIES
Bank overdrafts                118,063        5,017        8,741       125,905
Creditors - due within         292,554       12,431       21,660       311,986
one year                    
                               410,617       17,448       30,401       437,891

NET CURRENT (LIABILITIES)     (395,799)     (16,842)     (29,297)     (422,102)

TOTAL ASSETS LESS
CURRENT
LIABILITIES                137,357,032    5,706,673    9,807,554   146,208,645
                             

NET ASSETS ATTRIBUTABLE
TO SHAREHOLDERS            137,357,032    5,706,673    9,807,554   146,208,645
                              

CAPITAL AND RESERVES
Share capital                        -            -            -             -
Share premium                        -            -            -             -
Retained earnings          137,357,032    5,706,673    9,807,554   146,208,645
                            

                           137,357,032    5,706,673    9,807,554   146,208,645
                              

SHARES IN ISSUE            135,283,599    5,676,877    9,632,602

NAV PER SHARE                  £1.0153      €1.0052      $1.0181



STATEMENT OF CASH FLOWS
for the period from incorporation on 21 April 2006 to 31 December 2006



                             Sterling         Euro          US$
                                Share        Share        Share
                                Class        Class        Class          Total
                                    £            €            $              £

Operating activities

Net gain for the period
attributable to
shareholders                4,741,875      141,365      365,029      5,022,315

Add: Unrealised
appreciation on
investments                (5,461,831)    (172,515)    (417,851)    (5,791,376)

Add: Increase in accrued      292,554       12,431       21,660        311,986
expenses
Less: (Increase) in
prepayments and
accrued income                (13,718)        (583)      (1,016)       (14,629)
                              

Net cashflow from
operating
activities                   (441,120)     (19,302)     (32,178)      (471,704)
                             

Investing activities

Purchase of financial    (132,291,000)  (5,551,000)  (9,419,000)  (140,839,373)
assets                   

Net cashflow from
investing
activities               (132,291,000)  (5,551,000)  (9,419,000)  (140,839,373)
                             

Financing activities

Proceeds of issue of      135,283,599    5,676,877    9,632,602    144,304,624
shares
Share issue costs          (2,668,442)    (111,569)    (190,077)    (2,847,898)
                             

Net cashflow from
financing
activities                132,615,157    5,565,308    9,442,525    141,456,726
                             

Cash and cash
equivalents at
beginning of period                 -            -            -              -

Currency consolidation                                                (270,394)
adjustment
(Decrease) / increase in
cash and
cash equivalents             (116,963)      (4,994)      (8,653)       145,649
                              

Net cash and cash
equivalents at
end of period                (116,963)      (4,994)      (8,653)      (124,745)
                           



STATEMENT OF CHANGES IN EQUITY
for the period from incorporation on 21 April 2006 to 31 December 2006



                             Sterling         Euro          US$
                                Share        Share        Share
                                Class        Class        Class          Total
                                    £            €            $              £

Issue of shares           135,283,599    5,676,877    9,632,602    144,304,622

Share issue costs          (2,668,442)    (111,569)    (190,077)    (2,847,898)

Net gain for the period
attributable to
shareholders                4,741,875      141,365      365,029      5,022,315

Currency consolidation                                                (270,394)
adjustment                    

Closing balance           137,357,032    5,706,673    9,807,554    146,208,645
                             


For further information contact:


Anson Fund Managers Limited
Company Secretary

Tel: [phone]

3 April 2007







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