Share Conversion Frequency

RNS Number : 0893P

BlueCrest AllBlue Fund Ltd

09 July 2010

BLUECREST ALLBLUE FUND LIMITED (THE "COMPANY")

Monthly conversion facility

On 10 June 2010 the Company announced the proposed introduction of a monthly conversion facility. Given the fact that the subsequent issue of C Shares on 23 June 2010 increased the Company's gross assets by nearly 75% and the fact that holders of C Shares have no right to vote at a members' general meeting, the Directors consider it appropriate to allow all shareholders an opportunity to vote as Ordinary Shareholders on the necessary changes to the articles of association. Accordingly, it is proposed to delay the introduction of the monthly conversion facility until such time as the C Shares have converted to Ordinary Shares, which is expected to occur by 11 August 2010.

A short circular setting out further details of this proposal will be despatched to shareholders on or around 11 August 2010 with a general meeting of the Company to be held on or around Wednesday 22 September 2010.

Accordingly, the next conversion opportunity will be the existing 1 October 2010 quarterly conversion date and, subject to shareholder approval, the first monthly conversion date would be 1 November 2010. As with the existing quarterly conversion facility, the monthly conversion facility would continue to operate at the Directors' discretion with respect to any share class or across all share classes from time to time.

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