STOCK EXCHANGE ANNOUNCEMENT

For Immediate Release                                                                                15 June, 2012

Polar Capital European Market Neutral Fund Limited

Re: Controlling Unitholder

The Directors of Polar Capital European Market Neutral Fund Limited (the "Fund") wish to announce that, as at 31 May 2012, HSBC Global Custody Nominees (UK) Ltd. held an interest of 59,209.85 in A Participating US$ Non-Reporting share class in the Fund, representing 84.07% of the issued share capital of the Fund.

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