Estimated Net Asset Value as at 11 December 2008

    Estimated Net Asset Value as at 11 December 2008
             



                   MW TOPS LIMITED (the "Company")

                 ESTIMATED NET ASSET VALUE OF SHARES

The estimated net asset value per share ("NAV") of each of the
undermentioned three classes of shares of no par value in the Company
as at the close of business on Thursday 11 December 2008 is:


Sterling Shares - GBp 917   ISIN: GG00B39VY027

Euro Shares     - EUR 9.05  ISIN: GG00B39VXT49

USD Shares      - USD  8.94 ISIN: GG00B39VY134


These estimated NAVs have been calculated by Marshall Wace LLP and
are estimates only.  The making of such estimates involves known and
unknown risks, uncertainties and other factors which may cause the
estimated results, performance or achievements to be materially
different from any actual results, performance or achievements.
Except as required by applicable law, the Company and Marshall Wace
LLP expressly disclaim any obligation to update or revise such
estimates to reflect any change in expectations, new information,
subsequent events or otherwise.

This document is for information purposes only and is not an offer to
invest. "The Company is registered with the Dutch Authority for the
Financial Markets as a collective investment scheme which may offer
participations in The Netherlands pursuant to article 2:66 of the
Financial Markets Supervision Act (Wet op het financieel toezicht)."
All investments are subject to risk.  Past performance is no
guarantee of future returns.  Prospective investors are advised to
seek expert legal, financial, tax and other professional advice
before making any investment decision.  The value of investments may
fluctuate.  Results achieved in the past are no guarantee of future
results.

For further information about this announcement contact:

Anson Fund Managers Limited
Secretary
Tel: [phone]

12 December 2008

E&OE - in transmission

                         END OF ANNOUNCEMENT

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