KGR Kgr Absolute

    KGR ABSOLUTE RETURN PCC LIMITED - KGR ASIA DYNAMIC 1 (GBP)           

 

(a closed-ended protected cell company incorporated in Guernsey with
registration number 43789)

 

Estimated Net Asset Value and Lehman exposure assessment

 

As at the close of business on 12th September 2008 the estimated Net Asset
Value per share was 109.57 pence.

The investment advisers have been in close contact with the managers of our
investee funds in recent days. None of them use Lehman as Prime Broker. Gross
exposures both to outstanding trades through Lehman and to Lehman issued
securities, do not appear to be significant. The most conservative valuation of
outstanding positions would reduce this NAV estimate by less than 0.15%. No
such adjustment has been made pending further developments.

Please note the above estimate is after estimated costs and fees. This
valuation, which has been prepared in good faith by the Company's Investment
Manager, is for information purposes only and is based on the unaudited
estimated valuations supplied to the Company's Investment Adviser by investee
funds, their managers, investment advisers or administrators. Although the
Investment Manager and the Investment Advisor have evaluated all available
information and data, they have not confirmed the completeness or accuracy of
such information or data.  In some cases managers or administrators of
underlying hedge funds may not be able to provide their estimated value in a
timely manner, and as a result no change will be made to their estimated value
for the purposes of this valuation. When finally determined, the actual
month-end Net Asset Value (or `final published price') may therefore be
materially different from this estimated value. Accordingly, no reliance should
be placed on such estimated Net Asset Value and it should only be taken as an
indicative guide.

 

Enquiries:

Kleinwort Benson (Channel Islands) Fund Services Limited

01481 727111

 



END

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