Conversion of Securities

18 Mar 2011 16:48

BLACKROCK ABSOLUTE RETURN STRATEGIES LTD ("the Company") Conversion of Shares

The Company announces that it has received Conversion Notices in respect of the 31 March 2011 Currency Conversion Calculation Date from shareholders as follows:

Shares converting from:

US Dollar denominated Shares to Sterling denominated Shares 1,433,000

US Dollar denominated Shares to Euro denominated Shares 85,389 Euro denominated Shares to Sterling denominated Shares 45,625 Euro denominated Shares to US Dollar denominated Shares 8,842

Conversion will occur within 30 days of the currency Conversion Calculation Date, prior to which the Company will announce the conversion ratios to be used.

Enquiries: Ian WebsterCompany SecretaryBlackRock (Channel Islands) Limited

Tel: 015 3460 0802

Date: 18 March 2011