H3XS Newstar Rbc 3X�

RNS Number:3110Z
New Star RBC Hedge250 IDX (3X GBP)
29 June 2007

                                   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)



29 June 2007


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

1X US$ Shares           1X Euro Shares                       0.752443                  684,069                  514,722
3X Euro Shares          3X US$ Shares                        1.324264                  210,948                  279,350



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

                           New Share capital

1X US$ Shares                    123,030,271
1X Euro Shares                    56,778,461
1X Sterling Shares                22,628,678
3X US$ Shares                     31,674,110
3X Euro Shares                     8,905,835
3X Sterling Shares                 8,161,347



The Conversion Date was 29 June 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 4 July 2007.

Expected timetable

Unconditional dealings commence                                                       8.00 a.m. on 4 July
Crediting of CREST and Euroclear accounts pursuant to the Issue                                    4 July
Share certificates expected to be despatched                                                       9 July



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

Enquiries



Robert Peel, New Star Asset Management             020 7225 9292


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

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