Statement re Heart of Africa Fund


 
TIDMNSAM 
 
9th February 2009 
 
                      New Star Asset Management Group PLC 
 
On 11 December 2008, New Star announced the temporary suspension of dealings in 
the New Star Heart of Africa Fund. 
 
Since that announcement, the investment climate in the sub-Saharan African 
equity markets has continued to deteriorate as the repercussions of the credit 
crunch are felt more globally. 
 
It has become increasingly apparent that to reopen the fund to dealing would 
significantly disadvantage the remaining investors and after due consideration, 
and in consultation with the FSA, it has been agreed that the most appropriate 
course of action is to seek a winding-up of the fund. 
 
New Star will provide further details to the Fund's investors shortly. 
 
Ends 
 
For further information please contact : 
 
Jamie Legg, New Star UK public relations manager 
 
Tel:0207 225 9567 
 
 
 
END

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