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Tuesday 23 December, 2003

Knightsbridge Int.II

Redemption of Shares-Amend

Knightsbridge Integrated Hldgs II
23 December 2003

The Investment fund name for the announcement released today at 15.11 RNS No.
6237T should be Knightsbridge Integrated Holdings II Ltd.  The full text shown
below remains unchanged.

                                 COMPANY ANNOUNCEMENT

    For Immediate Release                                    December 23, 2003

                                  RE: Redemption of Shares

The Board of Directors (the 'Board') of Knightsbridge Integrated Holdings II
Limited (the 'Company') wish to announce that Participating Shares in the
amounts and at the redemption prices set forth below shall be redeemed by the
Company on a pro rata basis, based on the number of outstanding Participating
Shares held by each shareholder and that in accordance with the Articles of
Association one non-voting Nominal Share be issued to a Director at Par for each
share redeemed.

Payment previously received on or about the dates set forth below as Return of
Share Premium shall constitute and be ratified as a partial redemption of
Participating Shares.

Total Shares to be Redeemed        Redemption Price per Share         Record Date for Payment of Related
                                                                      Return of Share Premium
3,965                              $1,000.00                          December 22, 2003

The redemption will not result in any change in the respective percentage
ownership of Participating Shares among the shareholders or in their respective
proportionate interests in the Company.


Knightsbridge Advisers Inc                           Ms Ellen Heald
                                                     Phone: +918 336 0978

NCB Stockbrokers Limited                             Ms Margot McDonagh
                                                     Phone: +353 1 611 5907

This announcement has been issued through the Companies Announcement Service of

                            the Irish Stock Exchange

                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                                                                                                                                                                                         

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