Notification of Major Interest in Shares

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

ALTERNATIVE INVESTMENT STRATEGIES LIMITED

2. Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

X

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

£

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

£

An event changing the breakdown of voting rights

£

Other (please specify):

£

3. Full name of person(s) subject to the notification obligation:

HSBC Holdings Plc

4. Full name of shareholder(s)  (if different from 3.):

Sinopia Asset Management (UK) Limited

HSBC Global Asset Management (International) Limited

HSBC Global Asset Management (UK) Limited

HSBC Investment Management

5. Date of the transaction and date on which the threshold is crossed or reached:

8th April 2010

6. Date on which issuer notified:

9th April 2010

7. Threshold(s) that is/are crossed or reached:

From 9% to above 10%

8. Notified details:

A: Voting rights attached to shares

Class/type of shares

if possible using the ISIN CODE

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Number of Shares

Number of Voting Rights

Number of shares

Number of voting rights

% of voting rights

Direct

Direct

Indirect

Direct

Indirect

GB00B06GDT12

18,068,518

18,068,518

N/A

N/A

19,818,830

N/A

10.10%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/ Conversion Period

Number of voting rights that may be acquired if the instrument is exercised/ converted.

% of voting rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Exercise price

Expiration date

Exercise/ Conversion period

Number of voting rights instrument refers to

% of voting rights

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

19,818,830

10.10%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable:

N/A

Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will cease to hold:

N/A

12. Date on which proxy holder will cease to hold voting rights:

N/A

13. Additional information:

None

14. Contact name:

Joy Albright

15. Contact telephone number:

+44 (0)1481 704752