REG-BlackRock AbsRtnStrt: Holding(s) in Company

TR-1(i): NOTIFICATION OF MAJOR INTERESTS IN SHARES

(1). Identity of the issuer or the underlying issuer of existing shares to
which voting rights are attached (ii):

BlackRock Absolute Return Strategies Ltd

(2). Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights: ( )

An acquisition or disposal of financial instruments which may result in the
acquisition of shares already issued to which voting rights are attached: ( )

An event changing the breakdown of voting rights: ( )

Other (please specify) : Due to a change in issued share capital ( X )

(3). Full name of person(s) subject to the notification obligation (iii):

BlackRock, Inc.

(4). Full name of shareholder(s) (if different from 3.) (iv):

(5). Date of the transaction (and date on which the threshold is crossed or
reached if different) (v):

1 July 2009

(6). Date on which issuer notified:

3 July 2009

(7). Threshold(s) that is/are crossed or reached:

Holding has gone above 11%

(8). Notified details:

A: Voting rights attached to shares

Class/type of shares (if possible using the ISIN code): Sterling denominated
shares of no par value - JE00B2PXDB91

Situation previous to the triggering transaction(vi):
Number of Shares: 1,610,782
Number of Voting rights(viii): 2,255,095

Resulting situation after the triggering transaction(vii):
Number of shares:
Direct: n/a
Number of voting rights (ix):
Direct (x): n/a
Indirect (xi): 2,255,095 (1,610,782 indirect shares)

% of voting rights:
Direct: n/a
Indirect: 11.03%*

*based on voting rights 20,446,658.

B. Financial Instruments

Resulting situation after the triggering transaction (xii):

Type of financial instrument:

Expiration date (xiii):

Exercise/Conversion Period/Date (xiv):

Number of voting rights that may be acquired if the instrument is exercised/
converted:

% of voting rights:

Total (A + B):

Number of voting rights: 2,255,095
% of voting rights: 11.03%

9). Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable (xv):

BlackRock Investment Management (UK) Limited - 2,255,095 (11.03%)

Proxy Voting:

(10). Name of the proxy holder:

N/A

(11). Number of voting rights proxy holder will cease to hold:

N/A

(12). Date on which proxy holder will cease to hold voting rights:

N/A

(13). Additional information:

N/A

(14). Contact name:

Mrs A B Powley
For BlackRock Investment Management (UK) Limited
Secretary

(15). Contact telephone number:

020 7743 5610

6 July 2009

END