BHUE Blackrk Hdge Uk

Not for release, publication or distribution in or into the United States,
Canada, Australia or Japan

21 October 2014

BlackRock Hedge Selector Limited

Results of December 2014 Redemption

Background
As approved at the Extraordinary General Meeting of the Company on 11 April
2013, the Company has implemented a quarterly Redemption Mechanism for up to a
maximum of 20 per cent. of the UK Emerging Companies Shares in issue at the
relevant Redemption Notification Date. For the December 2014 redemption, the
Directors exercised their discretion to invite UK Emerging Companies
Shareholders to request the redemption of up to a maximum of 20 per cent. of
the shares in issue as at 17 October 2014 (excluding treasury shares) (the
Maximum Redemption Amount).

The December 2014 Redemption for up to 5,195,045 UK Emerging Companies Shares
was oversubscribed and holders of 6,541,208 UK Emerging Companies Shares (25.2%
of the UK Emerging Companies Shares excluding treasury shares) elected to
redeem their holding. Shareholders who have elected to redeem UK Emerging
Companies Shares shall have their request up to the limit of the basic entitlement
(20 per cent of their shares) satisfied in full and their election for further
shares will be scaled-back pro rata with each shareholder receiving 71.9475
per cent of their election for further shares.

The Redemption Valuation Date for the purposes of calculating the net asset
value of the Company's UK Emerging Companies Shares to determine redemption
proceeds payable will be 31 December 2014. It is expected that shareholders
will receive proceeds of the redemption on or around 16 January 2015. The
proceeds will be equivalent to the Net Asset Value of the UK Emerging Companies
Shares at 31 December 2014 less the attributable costs of redemption which the
Directors may in their absolute discretion deem appropriate, multiplied by the
number of shares redeemed.

The redeemed shares will be taken into Treasury. Therefore following
implementation of the December 2014 Redemption, the Company will have
20,780,183 UK Emerging Companies Shares in issue (excluding shares held in
Treasury and on the basis that there are no other movements in the Company's
issued share capital between the date of this announcement and the
implementation date of the December redemption).

After the redemption the Company will hold in total 7,738,795 UK Emerging Companies
Shares in Treasury.

Shareholders should be aware that, as announced on 5 September 2014, the Board
of BlackRock Hedge Selector Ltd is undertaking a shareholder consultation in
relation to the current investment objective and policy of the Company's
existing share class. The Company will make a further announcement in due
course.

Definitions
Terms defined in the Circular have the same meaning when used herein unless the
context otherwise requires.

Enquiries

Ed Bellew - 01534 600 806
BlackRock (Channel Islands) Limited

Will Rogers - 020 7397 1920
Sapna Shah - 020 7397 1922
Cenkos Securities plc