SALTUS EUROPEAN DEBT STRATEGIES LIMITED

(Registered in Guernsey - Number 46912)

Registered Office:

 2nd FLOOR, REGENCY COURT, GLATEGNY ESPLANADE, ST. PETER PORT,

GUERNSEY, GY1 3NQ, CHANNEL ISLANDS.

___________________________

TELEPHONE: + 44 1481 720321

    FACSIMILE: + 44 1481 716117    

e-mail:  Funds@bfmgl.gg

Saltus European Debt Strategies Limited announces that on 13th October 2008 it acquired 100,000 ordinary shares of nil par value ("Shares") for cancellation at an average price of 62p per share, representing a 22.38% discount to the estimated net asset value per share as at 30th September 2008.

The Company currently holds 3,911,306 Shares in treasury. Accordingly, the total number of voting rights in the Company is 42,299,889 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FSA's Disclosure and Transparency Rules.

All Enquiries:

The Company Secretary

Butterfield Fund Services (Guernsey) Limited
PO Box 211

Regency Court

Glategny Esplanade

St Peter Port
Guernsey

GY1 3NQ

Tel: 01481 720321

Fax: 01481 716117

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