Not for release, publication or distribution in or into the United States,
Canada, Australia or Japan.
BLACKROCK ABSOLUTE RETURN STRATEGIES LTD
Reverse Auction Tender Offer - Strike Price
The Board of BlackRock Absolute Return Strategies Ltd (the "Company") announces
that the Strike Price for each of the Company's share classes is as follows:
US Dollar denominated Shares - US$8.62
Euro denominated Shares - €8.18; and
Sterling denominated Shares - £7.91.
The Strike Price for each class of Shares (calculated after deducting the costs
and expenses of the Reverse Auction Tender offer) has been determined by taking
the published net asset value per Share of the relevant class as at 30 June
2010 and applying the Strike Discount for that class of Shares as determined by
the auction process.
Accordingly, 165,505 US Dollar denominated Shares, 164,178 Euro denominated
Shares and 801,045 Sterling denominated Shares will be repurchased under the
Reverse Auction Tender Offer and placed in treasury.
Settlement of the Reverse Auction Redemption Offer consideration is expected to
be made on, or before 7 September 2010. A further announcement advising of the
settlement date will be made in due course.
Defined terms in this announcement have the same meaning as in the Circular to
shareholders dated 30 April 2010.
Jonathan Ruck Keene / Barbara Powley (Company Secretary) - 020 7743 3000
BlackRock Investment Management (UK) Limited
Peter Hindmarsh - 020 7397 1983
Cenkos Securities plc
Date: 2 August 2010