Reclassification of Shares

RNS Number:9702F
HSBC Global Absolute Limited
02 December 2004


HSBC Global Absolute Limited

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


2 December, 2004


Regulatory News Service

London Stock Exchange

London

EC2N 1HP


Dear Sir,


The reclassification of the share capital of the Company into US Dollar Shares
and Sterling Hedged Shares was approved on 29 November 2004 and dealings in the
US Dollar Shares and Sterling Hedged Shares held by existing shareholders
commenced at 8.00am on 30 November 2004.

The Global Depositary Receipt facility with The Bank of New York has terminated
and the shares previously deposited with The Bank of New York have been
re-registered in the CREST stock accounts of Euroclear and Clearstream.

Based on the latest available estimated net asset value of the Company's Global
Depositary Receipts as at 19 November 2004, the net asset value per share of the
US Dollar Shares is $1.5473.

Based on the latest available estimated net asset value of the Company's shares
as at 19 November 2004, the net asset value per share of the Sterling Hedged
Shares is #0.8345


END.

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