This page includes Regulatory news filings supplied by issuers listed on the BSX. Please note the BSX is not responsible for the content, accuracy or completeness of announcements filed by issuers and disclaims all liability for any loss arising from reliance on information contained within issuer announcements.

BH Global Limited Announces Completion Of December 2008 Share Conversion

30 January 2009

Hamilton, Bermuda - 02 January, 2009 - BH Macro Limited (the "Company") announces that it has received (in aggregate) the following share conversion requests from shareholders for the 30 December 2008 Share Conversion Date.

Following the publication on 26 January 2009 of the final month-end net asset values for 31 December 2008, the following share conversion ratios have been determined in accordance with the articles of association of the Company for the purposes of the 31 December 2008 share conversion date:

0.949287	Sterling shares for each Euro share
0.678097	Sterling shares for each US Dollar share
1.053423	Euro shares for each Sterling share
1.474715	US Dollar shares for each Sterling share

On the basis of aggregate applications received and using the conversion ratios listed above, the following shares will be issued:

285,925 new Sterling shares of no par value,

and the following shares will be cancelled:

299,890 US Dollar Shares of no par value,

86,983 Euro Shares of no par value,

all with effect from 2 February 2009.

Application has been made to the Financial Services Authority ("FSA") for the new shares to be admitted to the Official List of the UK Listing Authority and admitted to trading on the London Stock Exchange's main market for listed securities.

Admission is expected to occur on 2 February 2009 and shareholder CREST accounts for converting shareholders are expected be updated at 8am on that date.

Following issue and cancellation of the relevant shares, the total number of shares in issue in each class will be as follows:

- 9,859,484 Euro Shares

- 34,401,411 US Dollar Shares; and

- 28,575,215 Sterling Shares

The number of votes each share in the Company is entitled to on a poll at any general meeting of the Company was published by the Company on 23 May 2008 and will not change as a result of the conversions. These are:

US Dollar Share 1

Euro Share 1.57465

Sterling Share 1.97950

On the basis of these ratios, from 30 January 2009, the total number of voting rights in the Company (rounded down to the nearest whole number) is 106,491,283.

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Andrew Maiden +44 (0)1481 745368