KGR Kgr Absolute

    11 August 2008

KGR Absolute Return PCC Limited

C Share Issue

The Directors of KGR Absolute Return PCC Limited (the `Company') announce that
on 11th August 2008, the net proceeds of the recent issue of C Shares were
substantially fully invested (or committed to be invested) in appropriate hedge
funds in accordance with the Company's investment policy.

Accordingly, as set out in the Company's Prospectus dated 26 June 2008, the
Calculation Time in respect of the conversion of C Shares is 31 July 2008.  A
further announcement providing an illustrative Conversion Ratio and an expected
timetable to Conversion will be made on or around 2nd September 2008.

Enquiries:

Mark White                                                                  
020 7823 2900

KGR Capital

Jane Lewis                                                                   
020 3100 0295

Winterflood Investment Trusts



END

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