SALTUS EUROPEAN DEBT STRATEGIES LIMITED
(Registered in Guernsey - Number 46912)

Registered Office:

2^nd FLOOR, REGENCY COURT, GLATEGNY ESPLANADE,

ST PETER PORT, GUERNSEY GY1 3NQ

TELEPHONE: +44 1481 720321
FACSIMILE: +44 1481 716117

E-MAIL: Funds@bfgl.com

Resignation of Director

The Board of Saltus European Debt Strategies Limited ("SEDS") announces that it has accepted the resignation of Mr William Scott as a director of the Company, effective on 1 March 2010.

Although Mr Scott has always acted in an entirely independent fashion, he is deemed under various corporate governance guidelines not to be independent by virtue of also acting as a non-executive director of another company managed by the Investment Manager.  For this reason the Board has regretfully accepted Mr Scott's resignation as a Director of SEDS, effective on 1 March 2010.

George Baird, Chairman, said:

"I would like to pay personal thanks to Bill for his significant contribution to the Board since the Company came to market in 2007. He has never been anything other than highly impartial and objective and it is a shame that we will be losing his counsel. The alternative would have been to inflate the size of the Board which we felt would neither be efficient nor cost effective. Following his resignation the Board will comprise four directors, including myself, three of whom are independent."

Enquiries:

Saltus Partners LLP

Jon Macintosh                  020 7290 9400