CHANGE OF AUDITORS

    The Company has undertaken a formal audit tender process for the position of
    statutory auditor and as a result PricewaterhouseCoopers have been appointed by
    the Directors as statutory auditor of the Company and they will be responsible
    for the audit of the Company's accounts for the year ended 29 February 2016.

    Scott Moncrieff , the Company's previous statutory auditors, ceased to hold
    office on 6 January 2016 and, as required by Section 519(iii) of the Companies
    Act 2006, Scott Moncrieff have deposited a statement with the Company of the
    circumstances connected with them ceasing to hold office as auditors of the
    Company.

    In accordance with the requirements of Section 520(ii) of the Companies Act
    2006, a copy of the statement received from Scott Moncrieff has been sent to
    all shareholders together with a letter from the Chairman.

    In compliance with Listing Rule 9.6.1 the Company announces that the following
    documents have been submitted electronically to the National Storage Mechanism
    and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM:

      * Letter from Scott Moncrieff including statement of circumstances connected
        with ceasing to hold office as auditors
       
      * Chairman's explanatory letter
       
    The documents will also be available shortly on the Company's website at 
    www.blackrock.co.uk/brsc

    14 January 2016