Publication of Prospectus

RNS Number:2500S
New Star RBC Hedge250 IDX (3X GBP)
02 March 2007

2 March 2007



                                   HEDGE ETS

  (A closed-ended investment company incorporated in Guernsey with registered
 number 45501 under the provisions of The Companies (Guernsey) Law 1994 to 1996
      and the Protected Cell Companies Ordinance 1997 to 1998, as amended)



Publication of Securities Note for

Second Placing and Offer for Subscription of new shares



Further to the announcement on 16 February 2007 by the Board of New Star RBC
Hedge 250 Index Exchange Traded Securities PCC Limited ("Hedge ETS"), the Board
today announce the publication of the Securities Note in respect of the second
offering of Hedge ETS.





Expected timetable


Placing closes                                               21 March 2007
Issue price determined                                       as at 5.00 p.m. on 22 March 2007
New shares commence trading                                  27 March 2007



A copy of the Securities Note will shortly be submitted for public inspection at
the Document Viewing Facility of the UK Listing Authority, The Financial
Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS.



Enquiries:



Ravi Anand, New Star Asset Management             020 7225 9292



Important Information

This announcement and the information contained herein is not for publication,
distribution or release in, or into, directly or indirectly, the United States,
Canada, Australia or Japan or to US persons.  The information contained herein
does not constitute an offer of securities for sale including in the United
States, Australia, Canada or Japan.

This announcement is not a prospectus.  Investors should only acquire securities
on the basis of information contained in the prospectus relating to such
securities as and when published.  In the event of any discrepancy between this
announcement and the prospectus, the prospectus will prevail.

The information contained in this announcement is for background purposes only
and does not purport to be full or complete.  No reliance may be placed for any
purpose on the information contained in this announcement or its accuracy or
completeness.  No representation, warranty or undertaking, express or implied,
is given as to the accuracy or completeness of the information contained in this
announcement by New Star or its directors and no liability is accepted by such
persons for the accuracy or completeness of any such information.

This announcement does not constitute or form part of any offer to issue or
sell, or any solicitation of any offer to subscribe or purchase, any
investments, nor shall it (or the fact of its distribution) form the basis of,
or be relied on in connection with, any contract thereof.

The information about Hedge ETS set out above is included in this announcement
for information purposes only and is not intended to constitute an invitation or
inducement to invest in the fund.  To the extent that such information is deemed
to constitute such an invitation or inducement, it is made solely to and/or is
directed solely at persons who are both (a) intermediate customers or market
counterparties for the purposes of the FSA's Conduct of Business Sourcebook and
(b) of a kind to or at whom such information may lawfully be issued or, as the
case may be, directed under The Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 ("permitted persons").  Persons other than
permitted persons should not rely on the information relating to the fund
contained in this announcement.

Acquiring investments to which this announcement relates may expose an investor
to a significant risk of losing all of the amount invested.  Persons considering
investing in such investments should consult an authorised person specialising
in advising on such investments.



UBS Investment Bank is acting, solely as sponsor and placing agent, for Hedge
ETS exclusively and no one else in connection with the global offering. UBS
Investment Bank will not be responsible to anyone other than Hedge ETS for
providing protections afforded to clients of UBS Investment Bank or for
providing advice in connection with the global offering, the contents of these
materials or any matter referred to herein.



Royal Bank of Canada Investment Management (UK) Ltd is acting solely as placing
agent for Hedge ETS. Royal Bank of Canada (together with its affiliates, "RBC")
may also act as product provider to New Star and/or Hedge ETS. RBC (i) has not
prepared, and makes no express or implied warranties concerning, the accuracy or
completeness of these materials; and (ii) expressly disclaims any advisory,
fiduciary or similar relationship with any recipient, and any liability
whatsoever for any direct or consequential loss arising from any use of the
information contained herein.



(R)Registered trademark of Royal Bank of Canada, RBC Capital Markets is a
trademark of Royal Bank of Canada.  Used under license.



UNITED STATES

The information contained herein is not for publication or distribution to
persons in the United States of America. The securities referenced in this
document have not been and will not be registered under the Securities Act of
1933 (the "1933 Act"). Such securities may not be sold or transferred to United
States persons unless such sale or transfer is registered under the 1933 Act or
exempt from such registration.






                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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