BHUE Blackrk Hdge Uk

BLACKROCK HEDGE SELECTOR

As announced on 5 September, given the current market capitalisation of the
Company and the prevailing share price discount, the Board of BlackRock Hedge
Selector Ltd undertook a shareholder consultation in relation to the current
investment objective and policy of the Company's existing share class. On 20
November 2014, the Board provided an update on the progress of this
consultation exercise, announcing that they were considering proposals from a
third party in relation to a different investment strategy, with a view to
determining the feasibility or otherwise of these proposals.

This third party has now contacted the Board to withdraw its proposals because it
was not possible to establish their feasibility. Consequently the Board now intends
to propose to shareholders that the Company be de-listed and wound up and that
investors receive exit proceeds equivalent to NAV less the costs of liquidation. A
further announcement setting out the timetable will be made in due course,
although it is anticipated that a General Meeting to approve the proposals will
be held before the end of January 2015 and it is anticipated that initial
liquidation proceeds will be paid out to shareholders in March or April 2015.

The December Redemption will proceed as previously announced and it is
anticipated that Shareholders that have elected to redeem will receive their
proceeds (based on the Company's NAV at 31 December 2014 less costs) on or
around 16 January 2015. In view of the proposed liquidation, the Directors will
not offer the March 2015 Redemption Facility.

Will Rogers - Cenkos Securities 020 7397 1920
Sapna Shah - Cenkos Securities 0207 397 1922
Ed Bellew - BlackRock 01534 600 806