2014 Dividend

BACIT Limited (the "Company")                         

  (a closed-ended collective investment scheme established as a company with   
  limited liability under the laws of Guernsey with registered number 55514)   

                                 2014 Dividend                                 

                                 31 July 2014                                  

The Board of the Company is pleased to announce a dividend equivalent to 2
pence per ordinary share for the year ended 31 March 2014 (the "2014
Dividend"). The 2014 Dividend will be paid on 10 September 2014 to holders of
ordinary shares recorded on the register as at the close of business on 8
August 2014.

The Board has determined that the 2014 Dividend will be paid to the Qualifying
Shareholders (as defined below) in the form of new ordinary shares unless those
shareholders elect to receive the dividend in cash instead. The number of new
shares that each Qualifying Shareholder will receive in payment of the 2014
Dividend will be determined by multiplying the number of existing shares held
by the shareholder on the record date by the cash equivalent amount of the 2014
Dividend per share and dividing the resulting number by the net asset value per
share of the Company as at 31 July 2014, and then rounding the result down to
the nearest whole number. Fractions of new shares will not be issued and cash
that otherwise would have been applied by the Company in paying up those
fractions will be retained by the Company.

A "Qualifying Shareholder" is a shareholder who is not located in, or with a
registered address in, or a citizen of any of the United States, Australia,
Canada, Japan, South Africa or any other jurisdiction in respect of which the
offer of new shares would or may be unlawful.

Shareholders who are not Qualifying Shareholders will receive the 2014 Dividend
in cash. In addition, Qualifying Shareholders can elect to receive the 2014
Dividend in cash. A circular and form of election is being sent to shareholders
today. Qualifying Shareholders who wish to receive the 2014 Dividend in cash
should complete and return the form of election by 5.00pm on 26 August 2014.

Timetable:

Posting of Circular and Forms of        Expected 1 August 2014                 
Election                                                                       
                                                                               
Shares quoted ex-dividend               6 August 2014                          
                                                                               
Record date for dividend                8 August 2014                          
                                                                               
Announcement of the 31 July 2014 NAV    Expected during the week commencing 25 
                                        August 2014                            
                                                                               
Final date for receipt by the Receiving 5 p.m. on 26 August 2014               
Agent of forms of election by                                                  
Qualifying Shareholders who wish to                                            
receive cash                                                                   
                                                                               
Dividend payment date                   10 September 2014                      
                                                                               
Shares to be issued and cash to be paid 10 September 2014                      
to shareholders who have opted for the                                         
cash dividend                                                                  

In compliance with LR 9.6.1, copies of the following documents have been
submitted to the National Storage Mechanism and will shortly be available
for inspection at 

www.hemscott.com/nsm.do:

1. 2014 Dividend circular

2. Form of election

Enquiries:

Company website:  www.bacitltd.com

Northern Trust International Fund Administration Services (Guernsey) Limited

Rose Toussaint
[phone]
[e-mail]