Not for release, publication or distribution in or into the United States,
Canada, Australia or Japan

20 January 2014



                       BlackRock Hedge Selector Limited

                       Results of March 2014 Redemption

Background

As approved at the Extraordinary General Meeting of the Company on 11 April
2013, the Company has implemented a discretionary quarterly Redemption
Mechanism for up to a maximum of 20 per cent. of the UK Emerging Companies
Shares in issue at the relevant Redemption Notification Date. All redemptions
are implemented at the absolute discretion of the Directors, who intend to
exercise this discretion to the extent that shares have traded at an average
discount over the relevant calculation period.

For the March 2014 Redemption, the Directors exercised their discretion to
invite UK Emerging Companies Shareholders to request the redemption of up to a
maximum of 20 per cent. of the shares in issue as at 17 January 2014 (excluding
treasury shares).

The March 2014 Redemption for up to 5,187,501 UK Emerging Companies Shares was
undersubscribed and holders of 112,277 UK Emerging Companies Shares (0.4% of
the UK Emerging Companies Shares excluding treasury shares) elected to redeem
their holding. The redemption will be satisfied in full.

The Redemption Valuation Date for the purposes of calculating the net asset
value of the Company's UK Emerging Companies Shares to determine redemption
proceeds payable will be 31 March 2014. It is expected that shareholders will
receive proceeds of the redemption on or around 16 April 2014. The proceeds
will be equivalent to the Net Asset Value of the UK Emerging Companies Shares
at 31 March 2014 less the attributable costs of redemption which the Directors
may in their absolute discretion deem appropriate, multiplied by the number of
shares redeemed.

The redeemed shares will be cancelled. Therefore following implementation of
the March 2014 Redemption, the Company will have 25,825,228 UK Emerging
Companies Shares in issue (excluding shares held in treasury) (all on the basis
that there are no other movements in the Company's issued share capital between
the date of this announcement and the implementation date of the December
redemption). The Company currently holds an additional 2,593,750 UK Emerging
Companies Shares in Treasury.

Definitions

Terms defined in the Circular have the same meaning when used herein unless the
context otherwise requires.

Enquiries

Ian Webster - 01534 600 802
BlackRock (Channel Islands) Limited

Will Rogers - 020 7397 1920
Sapna Shah - 020 7397 1922
Cenkos Securities plc

Date: 20 January 2014