RNS Number:3291L
New Star RBC Hedge250 IDX (1X GBP)
08 January 2008

                                   HEDGE ETS

            New Star RBC Hedge 250 Index Exchange Traded Securities
                                  PCC Limited

  (A closed-ended investment company incorporated in Guernsey with registered
number 45501 under the provisions of The Companies (Guernsey) Laws 1994 to 1996
      and The Protected Cell Companies Ordinance 1997 to 1998, as amended)


8th January 2008


                              CONVERSION FACILITY


New Star RBC Hedge 250 Index Exchange Traded Securities PCC Limited ("Hedge 
ETS") announces that it has received Conversion Requests and effected Share
Conversions as set out below.


Class to be converted from        Class to be               Conversion ratio     Shares            Shares
                                  converted to                                   to be redeemed    to be allotted
                                  
1X US Dollar Shares               1X Euro Shares              0.69374286         490,945           340,589

3X Euro Shares                    3X Sterling Shares          0.75467377          16,250            12,263



The new Share capital as a result of the conversions, and the recently announced
buybacks, is set out below.

                                              New Share capital
                                                    

1X US$ Shares                                       134,733,598

1X Euro Shares                                       47,608,023

1X Sterling Shares                                   14,817,392

3X US$ Shares                                         28,735,282

3X Euro Shares                                        8,971,277

3X Sterling Shares                                    8,109,706


The Conversion Date was 31 December 2007.



An application has been made for the new Shares allotted pursuant to the Share
Conversions to be admitted to the Official List of the FSA and to unconditional
trading on the London Stock Exchange's market for listed securities at 8.00 a.m.
on 15 January 2008.



Expected Timetable


Unconditional dealings commence                                              8.00 a.m. on 15 January 2008


Expected date that CREST accounts will be debited / credited                              15 January 2008
pursuant to Share Conversions


Expected date that new Share certificates and any balancing                               15 January 2008
Share certificates will be despatched



Capitalised words in this announcement bear the meanings given to them in the
Company's articles of association.



Enquiries



Alison Bilham, HSBC Securities Services (Guernsey) Limited
Tel: + 44 (0)1481 707213




ENDS


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

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