Conversion Notice

RNS Number:4050B
HSBC Global Absolute Limited
02 August 2007


HSBC Global Absolute Limited

HSBC Private Bank Building, Rue du Pre, St Peter Port, Guernsey GY1 1LU

2 August 2007

Regulatory News Service

London Stock Exchange

London

EC2N 1HP



Dear Sir,

Conversion Notice

The Company's Articles of Association incorporate provisions enabling
shareholders of either class of shares to convert all or part of their holding
into shares of the other class as at the last business day of March and
September each year (each a 'Conversion Date').

Such conversion will be on the basis of the ratio of the last reported net asset
value ("NAV") of the class of shares held (less the costs of effecting such
conversion), to the last reported NAV of the class of shares into which they
will be converted (each as at the relevant month-end NAV calculation date) and
otherwise as set out in the Company's articles of association.

Shareholders may convert shares of either class into shares of the other class
by giving not less than 10 business days notice to the Company in advance of the
relevant Conversion Date.

In the case of shares held in uncertificated form, the relevant USE
instruction(s) must be submitted to Capita Registrars at least 10 business days
before the relevant Conversion Date using the CREST information provided below:

CREST PARTICIPANT ID - RA10

MEMBER ACCOUNT CODE:

STERLING TO US DOLLAR      - GBP2USD                                                           HGAL

US DOLLAR TO STERLING      - USD2GBP                                                           HGAL

In the case of shares held in certificated form, a Conversion Notice must be
requested from the Company's Registrars at the following address, or may be
obtained from the Company's website www.hsbcabsolute.com:

Capita Registrars (Corporate Actions)
P.O. Box 166
34 Beckenham Road
Beckenham
Kent BR3 4TH

Telephone:

From UK:  0870 162 3100
From Overseas:  [phone]

To be valid the Conversion Notice and the appropriate share certificate must be
received at the above address at least 10 business days before the relevant
Conversion Date.

The date on which conversion will take place will be determined by the directors
but will not be more than 20 business days after the Conversion Date.

In addition shareholders should note, however, that fractions of shares arising
on conversions will be rounded down and hence the aggregate NAV of those shares
held after conversion may be less than before such conversion.  Shareholders
should also note that if they elect to convert shares they will be unable to
deal in those shares in the period between giving notice of conversion and the
actual date of conversion. Such notice once given shall be irrevocable without
the consent of the Directors.

This notice is for information only.  Any shareholder who is in any doubt
whether or not to convert is recommended to contact an independent financial
adviser.

Expected timetable

Latest date for submission of relevant USE
instruction(s) or receipt of Conversion Notice
and share certificate (as appropriate)                        14 September 2007

Conversion Date                                               28 September 2007

Latest date on which conversion will take place               26 October 2007


For further information regarding the bi-annual conversion facility, please
contact Clive Paine on [phone], [e-mail]


END.

                      This information is provided by RNS
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