RNS Number:4177X
Dexion Alpha Strategies Limited
30 May 2007


Dexion Alpha Strategies Limited


Conversion Notice


The Company's Articles of Association incorporate provisions enabling
Shareholders of any one class of Ordinary Shares to convert all or part of their
holding into Ordinary Shares of any other class as at the NAV Calculation Date
referable to the months of June and December in each year (each a "Conversion
Calculation Date").


Such conversion will be on the basis of the ratio of the NAV of the class of
Ordinary Shares to be converted from (less the costs of effecting such
conversion), to the NAV of the class of Ordinary Shares to be converted to (each
as at the relevant NAV Calculation Date) and otherwise as set out in the
Articles.


Shareholders may convert Ordinary Shares of any class into Ordinary Shares of
any other class by giving not less than 5 business days notice to the Company in
advance of the relevant Conversion Calculation Date.

In the case of Ordinary Shares held in uncertificated form, the relevant USE
instruction(s) must be submitted to Capita Registrars at least 5 business days
before the relevant Conversion Calculation Date using the CREST information
provided below:

CREST PARTICIPANT ID - RA10

MEMBER ACCOUNT CODE:

STERLING TO EURO                             -                           GBP2EUR

STERLING TO US DOLLAR                        -                           GBP2USD

EURO T0 STERLING                             -                           EUR2GBP

EURO TO US DOLLAR                            -                           EUR2USD

US DOLLAR TO STERLING                        -                           USD2GBP

US DOLLAR TO EURO                            -                           USD2EUR


In the case of Ordinary Shares held in certificated form, a Conversion Notice
must be requested from the Company's Registrars at the following address:


Capita Registrars (Corporate Actions)

P.O. Box 166

34 Beckenham Road

Beckenham

Kent BR3 4TH

Telephone:

From UK:  0870 162 3100

From Overseas:  +44 208 639 3399


To be valid the Conversion Notice and the appropriate Share certificate must be
received at the above address at least 5 business days before the relevant
Conversion Calculation Date.


In addition Shareholders should note, however, that fractions of Ordinary Shares
arising on conversions will be rounded down and that the costs of conversion may
be disproportionate to the value of the Ordinary Shares converted.  Hence the
aggregate Net Asset Value of those Ordinary Shares held after conversion may be
less than before such conversion.  Shareholders should also note that if they
elect to convert Ordinary Shares they will be unable to deal in those Ordinary
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)         22 June 2007


Conversion Calculation Date                                         29 June 2007


Conversion Date                                                   10 August 2007



Enquiries:


Martine Stanley                                         Tel: +44 (0)1481 707228

HSBC Securities Services (Guernsey) Limited



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

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