Smo Gold Regulatory News (BARS)

1 May 2012 13:56

BLACKROCK ABSOLUTE RETURN STRATEGIES LTD ("the Company") TRAIL COMMISSIONS

As set out in the Company's prospectus dated 4 April 2008 ("the Prospectus) each Qualifying Investor, (as defined in the Prospectus) is entitled for a period of five years from 1 May 2008 to receive trail commission at a rate equivalent to 0.5 per cent. per annum of the Net Asset Value attributable to the Shares of the relevant class subscribed by such Qualifying Investor. Such commission will be calculated semi-annually based on the average Net Asset Value attributable to the relevant Shares over the six month period preceding each Eligibility Date, referable to the dates of 30 April and 31 October in each year commencing on 31 October 2008 and ending on 30 April 2013, and will be paid semi-annually in arrear by BlackRock (Channel Islands) Limited, ("the Manager").

Unless the Manager agrees otherwise with a particular Qualifying Investor, trail commissions will only be payable to Qualifying Investors in respect of any Shares subscribed pursuant to the placing and offer for subscription of Shares in the Company on the terms contained in the Prospectus and Application Form ("the Offer") and must be claimed, together with such proof supporting the claim as the Manager may require at its discretion, within 30 calendar days of the relevant Eligibility Date. Trail commissions will be paid within 60 days of receipt of a valid claim and the Manager reserves the right to pay the trail commission in a currency of its choosing. Trail commissions not claimed within the relevant period will be forfeited. No trail commission will be paid to investors who are not Qualifying Investors. Unless the Manager agrees otherwise with a particular Qualifying Investor, the trail commission will only be paid to a Qualifying Investor in respect of those Shares acquired by the Qualifying Investor in the Offer and which remain held by the Qualifying Investor on the relevant Eligibility Date. Trail commissions will not be paid in respect of any Shares disposed of before an Eligibility Date even if the Shares are subsequently repurchased. Trail commissions will not be pro-rated to take account of Shares disposed of between Eligibility Dates. Separately, and in addition, a Qualifying Investor may itself direct that all or part of any trail fees otherwise payable to it should instead be paid to one or more third parties, including financial intermediaries.

In certain circumstances the Manager may agree variations in these terms with certain investors and/or in certain territories.

A Trail Commission Claim and Instruction Form may be obtained from the Company's website http://www.blackrockinternational.com/bars, or requested from the Company's Trail Fee Administrator at the following address:

The Trail Fee AdministratorComputershare Investor Services (Jersey) LimitedRe: BlackRock Absolute Return Strategies LtdQueensway HouseHilgrove StreetSt HelierJersey JE1 1ES

This notice is for information only. Any Shareholder who is in any doubt whether they are entitled to claim trail commission is recommended to contact an independent financial adviser.

Enquiries:

Ed Bellew BlackRock (Channel Islands) Limited, Company Secretary Tel: 015 3460 0806

Date: 30 April 2012Notes:

* Defined terms used in this notice and the Trail Commission Claim and

Instruction Form shall have the same meanings as in the prospectus relating

to BlackRock Absolute Return Strategies Ltd dated 4 April 2008.