Net Asset Value(s)

RNS Number:2254B
New Star RBC Hedge250 IDX (3X GBP)
31 July 2007

New Star RBC Hedge 250 Index Exchange Traded Securities PCC Limited 
(the "Company")

Estimated Intra Month Net Asset Values

Ordinary Shares

As at the close of business on 18 July 2007, the estimated net asset values of
the Company's ordinary shares based on the RBC Hedge 250 Index (the "Index")
value at 18 July 2007 as published on the 19th July 2007 are as follows:

1X US$ Shares                                                  $ 1.0692
1X Euro Shares                                                 Euro 1.0602
1X Sterling Shares                                             # 1.0684
3X US$ Shares                                                  $ 1.1915
3X Euro Shares                                                 Euro 1.1781
3X Sterling Shares                                             # 1.1883



This intra month estimated net asset value is provided for illustrative purposes
and may not fully reflect performance of all underlying hedge funds comprising
the Index at 18 July 2007 or be representative of returns for the month to 31
July 2007.   The latest Index level can be found at www.rbchedge250.com.

An estimated net asset value for 31 July 2007 is expected to be released on 13
August 2007 and the final net asset value for 31 July 2007 is expected to be
released on 29 August 2007.

These valuations, which have been prepared in good faith by the Company's
administrator, are for information purposes only. Certain risk factors which may
be relevant to these valuations are set out in the Company's prospectus dated 1
June 2007.

Enquiries

Pam Le Cheminant, HSBC Securities Services (Guernsey) Limited

Tel: + 44 (0)1481 707122



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