Holding(s) in Company

BH Macro Limited
28 June 2007



TR-1(i): notification of major interests in shares

+--------------------------------------------+--------------------------------+
|1. Identity of the issuer or the underlying |      BH MACRO ORD NPV GBP      |
|issuer of existing shares to which voting   |                                |
|rights are attached(ii):                    |        (SEDOL B1NP514)         |
+--------------------------------------------+----------------------+---------+
|2. Reason for the notification (please tick the appropriate box or |         |
|boxes)                                                             |         |
+-------------------------------------------------------------------+---------+
|An acquisition or disposal of voting rights                        |         |
+-------------------------------------------------------------------+---------+
|An acquisition or disposal of financial instruments which may      |         |
|result in the acquisition of shares already issued to which voting |         |
|rights are attached                                                |         |
+-------------------------------------------------------------------+---------+
|An event changing the breakdown of voting rights                   |         |
+-------------------------------------------------------------------+---------+
|Other (please specify) Transparency Directive Disclosure           |    X    |
+--------------------------------------------+----------------------+---------+
|3. Full name of person(s) subject to the    |  Cazenove Capital Management   |
|notification obligation(iii):               |            Limited             |
+--------------------------------------------+--------------------------------+
|4. Full name of shareholder(s) (if different|              N/A               |
|from 3.)(iv):                               |                                |
+--------------------------------------------+--------------------------------+
|5. Date of the transaction (and date on     |            28/06/07            |
|which the threshold is crossed or reached if|                                |
|different)(v):                              |                                |
+--------------------------------------------+--------------------------------+
|6. Date on which issuer notified:           |            28/06/07            |
+--------------------------------------------+--------------------------------+
|7. Threshold(s) that is/are crossed or      |               5%               |
|reached:                                    |                                |
+--------------------------------------------+------------------------------+-+
|8. Notified details:                        |N/A                           | |
+--------------------------------------------+----------------------+-------+-+
+--------------------------------------------+----------------------+-------+-+

+---------------------------------------------------------------------------------+
|A: Voting rights attached to shares                                              |
+------------+---------------+----------------------------------------------------+
|Class/type  |Situation      |Resulting situation after the triggering transaction|
|of shares   |previous to the|(vii)                                               |
|            |Triggering     |                                                    |
|if possible |transaction    |                                                    |
|using the   |(vi)           |                                                    |
|ISIN CODE   +-------+-------+--------+---------------------+---------------------+
|            |Number |Number |Number  |Number of voting     |% of voting rights   |
|            |of     |of     |of      |rights ix            |                     |
|            |Shares |Voting |shares  |                     |                     |
|            |       |Rights +--------+----------+----------+----------+----------+
|            |       |viii   |Direct  |Direct x  |Indirect  |Direct    |Indirect  |
|            |       |       |        |          |xi        |          |          |
+------------+-------+-------+--------+----------+----------+----------+----------+
|GG00B1NP5142|604,500|604,500|604,500 |604,500   |0         |5.26%     |0         |
|            |       |       |        |          |          |          |          |
|            |       |       |        |          |          |          |          |
+------------+-------+-------+--------+----------+----------+----------+----------+

+------------------------------------------------------------------------------+
|B: Financial Instruments                                                      |
+------------------------------------------------------------------------------+
|Resulting situation after the triggering transaction xii                      |
+---------------+-----------+------------------+-------------------+-----------+
|Type of        |Expiration |Exercise/         |Number of voting   |% of voting|
|financial      |date xiii  |Conversion Period/|rights that may be |rights     |
|instrument     |           |Date xiv          |acquired if the    |           |
|               |           |                  |instrument is      |           |
|               |           |                  |exercised/         |           |
|               |           |                  |converted.         |           |
+---------------+-----------+------------------+-------------------+-----------+
|      N/A      |N/A        |       N/A        |N/A                |N/A        |
+---------------+-----------+------------------+-------------------+-----------+

+-----------------------------------------------------------------------------+
|Total (A+B)                                                                  |
+-------------------------------------+---------------------------------------+
|Number of voting rights              |% of voting rights                     |
+-------------------------------------+---------------------------------------+
|604,500                              |5.26%                                  |
+-------------------------------------+---------------------------------------+


+-----------------------------------------------------------------------------+
|9. Chain of controlled undertakings through which the voting rights and/or   |
|the financial instruments are effectively held, if applicable xv:            |
+-----------------------------------------------------------------------------+
|N/A                                                                          |
+-----------------------------------------------------------------------------+

+-----------------------------------------------------------------------------+
|Proxy Voting:                                                                |
+------------------------------------------------+----------------------------+
|10. Name of the proxy holder:                   |            N/A             |
+------------------------------------------------+----------------------------+
|11. Number of voting rights proxy holder will   |            N/A             |
|cease to hold:                                  |                            |
+------------------------------------------------+----------------------------+
|12. Date on which proxy holder will cease to    |            N/A             |
|hold voting rights:                             |                            |
+------------------------------------------------+----------------------------+

+--------------------------------+--------------------------------------------+
|13. Additional information:     |                    N/A                     |
+--------------------------------+--------------------------------------------+
|14. Contact name:               |                    N/A                     |
+--------------------------------+--------------------------------------------+
|15. Contact telephone number:   |                    N/A                     |
+--------------------------------+--------------------------------------------+




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