Correction : Conversion of Securities

This announcement is a replacement for one released at 15:25hrs on 31 January 2017.  The only item changed is the title of the announcement

BH Macro Limited (the "Company")
(a closed-ended collective investment scheme established as a company with limited liability under the laws of Guernsey with registered number 46235)

January 2017 Share Conversion
31 January 2017

The Company has received (in aggregate) the following share conversion requests from shareholders for the 31 January 2017 Share Conversion Date:

102 GBP Shares to convert to EUR Shares

266 GBP Shares to convert to USD Shares

9,798 USD Shares to convert to GBP Shares

46 EUR Shares to convert to GBP Shares

1,200 EUR Shares to convert to USD Shares

Conversions will take place as soon as practicable after the Company's month-end net asset value figures for January 2017 are released. Converting shareholders will be notified upon conversion taking place, which will be no later than 25 business days after 31 January 2017.

Company website:         www.bhmacro.com

Enquiries:

The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited

Tel:       [phone]