HTCF.L Regulatory News (HTCF)

HIGHBRIDGE MULTI-STRATEGY FUND LIMITED, FORMERLY BLUECREST ALLBLUE FUND LIMITED (the "Company")

25 February 2016

Receipt of Redemption Proceeds

The Company is pleased to announce that it has now received from AllBlue Limited and AllBlue Leveraged Feeder Limited a further tranche of redemption monies in the sum of approximately £7 million. The Company has now received a total of approximately £506 million and $31 million from AllBlue and AllBlue Leveraged (the "AllBlue Funds"), representing approximately 71% of the value of the Company's investment in the Sterling classes of the AllBlue Funds and approximately 74% of the value of its investment in the US$ classes of the AllBlue Funds. Accordingly, approximately 74% of the Sterling Class net assets and 75% of the US Dollar Class net assets of the Company are now held as cash.

Update on timetable

The redemption of the Shares participating in the Cash Exit Offer will now be effected on 26 February 2016. An announcement will be made on that date to confirm the conversion ratio for the conversion of the US$ Shares remaining following completion of the Cash Exit Offer into Sterling Shares, the total number of Sterling Shares and US$ Shares to be redeemed and the initial distribution amount.

Terms used and not defined in this announcement will bear the meanings given in the Circular to Shareholders dated 8 February 2016.

For further information contact:

JTC (Guernsey) Limited, Secretary

Tel: +44 (0) 1481 702 400

Jefferies International Limited

Gary Gould/ Alex Collins

Tel: + 44 (0) 20 7029 8000

Dexion Capital Plc

Robin Bowie/ Katie Standley

Tel: +44 (0) 20 7832 0900