Conversion of Securities

BH Macro Limited
16 July 2007



Share Conversion Notice

Please follow the link below to access the BH Macro Limited share conversion
notice and instructions for the 31 July 2007 conversion date.


http://www.rns-pdf.londonstockexchange.com/rns/3117a_-2007-7-16.pdf

All Enquiries:

The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL

Tel: [phone]

16 July 2007



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