BH Global Limited - Discount Control Trigger

Hamilton, Bermuda - 24 August, 2009 - BH Global Limited (the "Company") announces that following publication of the net asset values for each class of the Company's shares as at 31 July, 2009, the discount control provisions contained in the Company's articles of association have been triggered for the Company's Sterling share class. 

Accordingly, the Company is now required by its articles of incorporation to convene a class meeting of the Sterling shares to consider a Class Closure Resolution (as such term is defined in the Company's articles of incorporation) to approve arrangements for the discontinuation of the Sterling share class. The Class Closure Resolution is a special resolution which will require not less than 75 per cent. of the total voting rights cast on the resolution to be in favour in order to become effective.

All three currency classes of shares of the Company have now triggered the requirement to hold a class meeting to consider a Class Closure Resolution and the Board intends to convene these class meetings to be held on the same date in October and to also, at the same time, convene an extraordinary general meeting of the shareholders to consider amendments to the existing discount management arrangements contained in the Company's articles of association.

The Board of the Company intends to recommend to shareholders of each class to vote against the Class Closure Resolutions and to vote in favour of the amendments to the articles of association.

Further details, including reasons to vote against the Class Closure Resolutions and a description of the proposed amendments to the articles of association, will be included in the circular anticipated to be sent to shareholders in early September.

Suspension of September class conversion

In view of the upcoming class meetings, for practical and operational reasons, the Board intends to suspend the share conversion scheme for the 30 September 2009 conversion date. Therefore, the last date for shareholders to submit a conversion notice prior to the class meetings being held shall be Friday 28 August 2009. Shares converted on the 28 August 2009 conversion date will be issued in late September prior to the last time for receipt of proxies for the Class Closure meetings and extraordinary general meeting. The Board intends to resume the share conversion scheme for all classes which vote against a Class Closure Resolution on the 30 October 2009 conversion date.

Enquiries 

Dan Riggs/Richard Murray                 Tel:    0207 022 6200 

Brevan Howard 

William Simmonds                              Tel:    0207 588 2828 

J.P. Morgan Cazenove