BHCF Blackrk Hdge Fd

                         BlackRock Hedge Selector Ltd                          

                                ("the Company")                                

                                                                               
          Completion of the Cash Exit and Compulsory Share Conversion          

As announced on 5 February 2013, redemption requests in the respect of the Cash Exit offered to Cash Fund shareholders have been received in respect of 7,281,871 Cash Fund Shares. Based on a Cash Fund Share Class NAV of 99.849 pence per share at 31 January 2013, less costs of implementing the Cash Exit, total proceeds of 99.52599 per share will be paid to Cash Fund Shareholders on 11 February 2013 in the case of uncertificated Cash Fund Shareholders, and in the week commencing 18 February 2013 in the case of certificated Cash Fund Shareholders.

Holders of 31,631 Cash Fund Shares did not elect to participate in the Cash Exit, and, as previously announced, these shares will therefore be compulsorily converted into UK Emerging Companies Shares.

The results of the Compulsory Conversion are set out below:

Cash Fund Shares subject to Compulsory Conversion 31,631

Shares to be converted from: Cash Fund Shares

Total UK Emerging Companies Shares to be issued: 24,322

Conversion Ratio

The Conversion Calculation Date was 31 January 2013. On the basis of the net asset values of the Company's Shares as at 31 January 2013 after factoring in the costs of conversion, the conversion ratio is as follows:

0.768986 UK Emerging Companies Share for one Cash Fund Share.

Subject to listing, shareholder CREST accounts for shareholders subject to the Compulsory Conversion will be credited with new shares on 12 February 2013.

The Company has made an application to admit 24,322 UK Emerging Companies Shares to the official list of the UK Listing Authority and to trading on the London Stock Exchange on 12 February 2013.

Subsequent to the completion of the Compulsory Conversion and the Cash Fund Exit, the Company's issued share capital will comprise 42,012,922 UK Emerging Companies Shares. There will be no Cash Fund Shares in issue and the Company intends to apply to have this share class de-listed subject to the necessary approvals.

All enquiries:

I Webster
For BlackRock (Channel Islands) Limited
Secretary

7 February 2013