Interim Results

Close AllBlue Fund Limited
18 September 2006

CLOSE ALLBLUE FUND LIMITED

PRELIMINARY ANNOUNCEMENT OF INTERIM RESULTS

The directors announce the statement of interim results for the period ended 30
June 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 carry out any additional hedging arrangements.

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

The Directors do 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 30 June 2006 were:


               Nominal     *Valuation in         Valuation     Total Net Assets
                            Local Currency                 
INVESTMENT                                           £                %
                                                     
AllBlue        1,289,579     £130,531,189       £130,531,189        93.49%
Limited
Sterling
Shares

AllBlue           52,471       €5,469,031         £3,784,797         2.71%
Limited Euro
Shares

AllBlue           83,743       $9,298,110         £5,030,356         3.60%
Limited US $                                      ----------        -------
Shares

                                                £139,346,342        99.80%
                                                  ==========        =======

* Source AllBlue Limited

CHAIRMAN'S STATEMENT FOR THE PERIOD ENDED 30 JUNE 2006

It is with great pleasure that I welcome shareholders to the first interim
report of the Company.  This is my first formal communication with shareholders
since the Company's placing of Shares by Close Fund Management (Investments)
Limited ('Close') on 25 May 2006 and I would like to express the Board's thanks
to all shareholders as well as Close for their support 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.

As you are aware the Company's rationale is to bridge the gap between single
strategy hedge fund managers and fund of funds.  This has been achieved by the
Company investing substantially all of the monies raised by the issue of its
Sterling Shares, Euro Shares and US$ Shares in the corresponding shares classes
of AllBlue Limited ('AllBlue'), a Cayman Island domiciled open-ended fund of
hedge funds managed by BlueCrest Capital Management L.P., ('BlueCrest').

Close AllBlue Fund Limited is a specially structured company allowing
shareholders access to the investment management skills of BlueCrest without
need of a high minimum monetary investment, as would be required by investors in
AllBlue.  Coupled with the ability to trade Shares daily on AIM, one hopes these
features should make the Company's Shares an attractive and rewarding investment
for shareholders over the years to come.

The Company will publish weekly and monthly net asset values and monthly fact
sheets based on information provided to the Company by BlueCrest.

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

I look forward to reporting to you again in the Audited Report & Accounts at 31
December 2006 and thank you for your continued support.

Richard Crowder

Chairman


STATEMENT OF OPERATIONS

for the period from incorporation on 21 April 2006 to 30 June 2006


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

Net movement in
unrealised
depreciation on            (1,759,811)      (81,969)    (120,890)   (1,881,506)
investments

Operating expenses            (74,416)       (3,796)      (6,555)      (80,569)
                              ---------     ---------    ---------     ---------

Loss before financing      (1,834,227)      (85,765)    (127,445)   (1,962,075)
costs and taxation
Interest paid                       -             -            -             -
                              ---------     ---------    ---------     ---------

Loss on ordinary
activities before
taxation                   (1,834,227)      (85,765)    (127,445)   (1,962,075)

Taxation on ordinary                -             -            -             -
activities                    ---------     ---------    ---------     ---------

Net loss for the           (1,834,227)      (85,765)    (127,445)   (1,962,075)
period                        =========     =========    =========     =========

                            Pence (£)      Cent (€)     Cent ($)
Loss per share for              (1.36)        (1.51)       (1.32)
the period

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 30 June 2006

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

FIXED ASSETS

Unquoted financial
assets designated
as fair value            130,531,189     5,469,031    9,298,110    139,346,342
through profit and        ---------      ---------    ---------      ---------
loss

CURRENT ASSETS

Debtors                       34,550         1,429        2,414         36,845
Cash at bank                 517,750        21,419       36,171        552,142
                             ---------     ---------    ---------      ---------

                             552,300        22,848       38,585        588,987

CURRENT
LIABILITIES

Creditors - due              297,049        12,288       20,753        316,780
within one year              ---------     ---------    ---------      ---------

NET CURRENT ASSETS           255,251        10,560       17,832        272,207

TOTAL ASSETS LESS
CURRENT
LIABILITIES              130,786,440     5,479,591    9,315,942    139,618,549
                             ---------     ---------    ---------      ---------
                             =========     =========    =========      =========
NET ASSETS
ATTRIBUTABLE TO
SHAREHOLDERS
                         130,786,440     5,479,591    9,315,942    139,618,549
                             =========     =========    =========      =========

CAPITAL AND
RESERVES
Share capital                      -             -            -              -
Share premium            132,620,667     5,565,211    9,443,394    141,462,640
Retained earnings         (1,834,227)      (85,765)    (127,445)    (1,962,075)
Exchange gains/                    -           145           (7)       117,984
(losses)                     ---------     ---------    ---------      ---------

                         130,786,440     5,479,591    9,315,942    139,618,549
                             =========     =========    =========      =========

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

NAV PER SHARE                £0.9668       €0.9652   US$0.9671

The NAV per share is calculated in accordance with International Financial
Reporting Standards.

STATEMENT OF CASH FLOWS

for the period from incorporation on 21 April 2006 to 30 June 2006

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

Operating
activities

Loss on ordinary          (1,834,227)      (85,765)    (127,445)    (1,962,075)
activities after
taxation
Exchange gains /                   -           145           (7)       117,984
(losses) on currency
balances

Add: Unrealised            1,759,811        81,968      120,890      1,881,506
depreciation on
investments
Exchange gains /                   -             -            -            433
(losses) on currency
balances

Add: Increase in             297,049        12,289       20,753        316,780
accrued expenses
Less: (Increase) in
prepayments and
accrued
income                       (34,550)       (1,429)      (2,414)       (36,845)
                             ---------     ---------    ---------      ---------

Net cash outflow             188,083         7,208       11,777        317,783
from operating               ---------     ---------    ---------      ---------
activities

Investing
activities

Purchase of             (132,291,000)   (5,551,000)  (9,419,000)  (141,228,281)
financial assets             ---------     ---------    ---------      ---------

Net cash outflow        (132,291,000)   (5,551,000)  (9,419,000)  (141,228,281)
from investing               ---------     ---------    ---------      ---------
activities

Financing
activities

Proceeds of issue of     135,283,599     5,676,877    9,632,602    144,304,624
shares
Share issue costs         (2,662,932)     (111,666)    (189,208)    (2,841,984)
                             ---------     ---------    ---------      ---------

Net cash inflow from     132,620,667     5,565,211    9,443,394    141,462,640
financing                    ---------     ---------    ---------      ---------
activities

Cash at beginning of               -             -            -              -
period

Increase in cash and         517,750        21,419       36,171        552,142
cash equivalents             ---------     ---------    ---------      ---------

Cash at end of               517,750        21,419       36,171        552,142
period                       =========     =========    =========      =========

STATEMENT OF CHANGES IN EQUITY

for the period from incorporation on 21 April 2006 to 30 June 2006

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

Issue of shares          135,283,599     5,676,877    9,632,602    144,304,624

Share issue costs         (2,662,932)     (111,666)    (189,208)    (2,841,984)

Loss for the year         (1,834,227)      (85,765)    (127,445)    (1,962,075)

Exchange gains /                   -           145           (7)       117,984
(losses) on currency         ---------     ---------    ---------      ---------
balances

Closing balance          130,786,440     5,479,591    9,315,942    139,618,549
                             =========     =========    =========      =========



For further information contact:
Anson Fund Managers Limited
Company Secretary
Tel: [phone]

18 September 2006







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