RNS Number : 4203Z
  FRM Credit Alpha Limited
  18 July 2008
   
                               FRM Credit Alpha
                           Final NAV 30th  June-2008
 FINAL MONTHLY NAV 




 FRM Credit Alpha Limited (the "Company")


 Final Net Asset Value GBP Shares as at 30th June 2008
 The final net asset value per GBP share as at the close of business on 
 30 June 2008 was 119.9 pence
 This valuation, which has been prepared in good faith by the Company's
 Administrator, is based principally on formal valuations supplied to the
 Company by the administrators of the Company's underlying investments. Such
 valuations or estimates are unaudited and may not comply with generally
 accepted accounting or valuation principles.
 Sedol: B1QH6J2
 ISIN:    GG00B1QH6J27





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