HTCF.L Regulatory News (HTCF)

BlueCrest AllBlue Fund Limited (the "Company")

2 February 2016

Update on Continuation Proposals

Further to the announcement released on 25 January 2016, the Company is pleased to announce that it has now received from AllBlue Limited and AllBlue Leveraged Feeder Limited the second tranche of redemption monies in the sum of approximately £165 million and US $9 million. The Company has now received a total of approximately £500 million and $31 million from AllBlue and AllBlue Leveraged, representing approximately 65% of the net asset value of the Sterling class and 73% of the net asset value of the US Dollar class. These proceeds have been invested in UK Government Treasury Bills, a money market fund and cash deposits with a diversified range of higher rated banks.

The difference in the percentage of proceeds received to date in the Sterling and Dollar classes reflects the lower redemption amount received from AllBlue Leveraged which is held, in part, by the Sterling class. AllBlue Leveraged has returned approximately 46.5% of capital because of the repayment of the leverage facility in that fund, as notified in the Company's announcement on 9 December 2015.

The Board and its advisers continue to progress documentation in relation to the Proposals and intend to publish a circular as soon as practicable in early February.

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