RNS Number:6904R
New Star RBC Hedge250 IDX (1X GBP)
04 April 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)



4 April 2008


                              CONVERSION FACILITY


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


Class to be converted from     Class to be converted to            Conversion ratio      Shares to be   Shares to be
                                                                                             redeemed       allotted
                              

3X US Dollar Shares            3X Euro Shares                            0.66261782            92,500         61,292

3X Sterling Shares             3X US Dollar                              1.93941872            77,606        150,510



The new Share capital as a result of the conversions is set out below.


                                              New Share capital
                                                    

1X US$ Shares                                       117,705,473
                                                    
1X Euro Shares                                       46,008,023
                                                     
1X Sterling Shares                                   14,079,392
                                                     
3X US$ Shares                                        28,463,292
                                                      
3X Euro Shares                                        9,032,569
                                                      
3X Sterling Shares                                    8,024,313



The Conversion Date was 31 March 2008.



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 April 2008.



Expected Timetable


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


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


Expected date that new Share certificates and any balancing        15 April 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





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

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