Holding(s) in Company

BH Macro Limited
31 October 2007



Form TR-1 with annex. FSA Version 2.1 updated April 2007

+----------------------------------------+
|For filings with the FSA include the    |
|annex                                   |
|                                        |
|For filings with issuer exclude the     |
|annex                                   |
+----------------------------------------+

+-----------------------------------------------------------------------------+
|TR-1: Notifications of Major Interests in Shares                             |
+-----------------------------------------------------------------------------+

+-----------------------------------------------+-------------------------------+
|                                               |                               |
|                                               |                               |
|1. Identity of the issuer or the underlying    |                               |
|issuer of existing shares to which voting      |                               |
|rights are attached:                           |BH Macro Ltd                   |
+-----------------------------------------------+-------------------------------+
|                                                                               |
|                                                                               |
|2. Reason for notification (yes/no)                                            |
+--------------------------------------------------------------------+----------+
|                                                                    |          |
|                                                                    |          |
|An acquisition or disposal of voting rights                         |No        |
+--------------------------------------------------------------------+----------+
|An acquisition or disposal of financial instruments which may result|          |
|in the acquisition of shares already issued to which voting rights  |          |
|are attached                                                        |No        |
+--------------------------------------------------------------------+----------+
|                                                                    |          |
|                                                                    |          |
|An event changing the breakdown of voting rights                    |No        |
+--------------------------------------------------------------------+----------+
|                                                                    |          |
|                                                                    |          |
|Other (please specify):_increase in issued share capital            |Yes       |
+---------------------------------------+----------------------------+----------+
|                                       |                                       |
|                                       |                                       |
|3. Full name of person(s) subject to   |F&C Asset Management plc               |
|notification obligation:               |                                       |
+---------------------------------------+---------------------------------------+
|                                       |                                       |
|                                       |                                       |
|4. Full name of shareholder(s) (if     |See box 9 below                        |
|different from 3):                     |                                       |
+---------------------------------------+---------------------------------------+
|                                       |                                       |
|                                       |                                       |
|5. Date of transaction (and date on    |29/10/07                               |
|which the threshold is crossed or      |                                       |
|reached if different):                 |                                       |
+---------------------------------------+---------------------------------------+
|                                       |                                       |
|                                       |                                       |
|6. Date on which issuer notified:      |30/10/07                               |
+---------------------------------------+---------------------------------------+
|                                       |                                       |
|                                       |                                       |
|7. Threshold(s) that is/are crossed or |12%                                    |
|reached:                               |                                       |
+---------------------------------------+-------+--------------------+----------+
+---------------------------------------+-------+--------------------+----------+



+------------------------------------------------------------------------------------+
|8: Notified Details                                                                 |
+------------------------------------------------------------------------------------+
|A: Voting rights attached to shares                                                 |
|                                                                                    |
|                                                                                    |
+------------+-------------------+---------------------------------------------------+
|Class/type  |Situation previous |Resulting situation after the triggering           |
|of shares   |to the triggering  |transaction                                        |
|            |transaction        |                                                   |
|If possible +---------+---------+---------+-------------------+---------------------+
|use ISIN    |Number of|Number of|Number of|Number of voting   |Percentage of voting |
|code        |shares   |voting   |shares   |rights             |rights               |
|            |         |rights   |         +---------+---------+----------+----------+
|            |         |         |         |         |         |          |          |
|            |         |         |         |         |         |          |          |
|            |         |         |         |Direct   |Indirect |Direct    |Indirect  |
+------------+---------+---------+---------+---------+---------+----------+----------+
|GG00B1NP5142|1,560,000|1,560,000|1,560,000|-        |1,560,000|-         |11.26%    |
|ord NPV     |         |         |         |         |         |          |          |
+------------+---------+---------+---------+---------+---------+----------+----------+

+--------------------------------------------------------------------------------+
|B: Financial Instruments                                                        |
|                                                                                |
|                                                                                |
+--------------------------------------------------------------------------------+
|Resulting situation after the triggering transaction                            |
|                                                                                |
|                                                                                |
+---------------+---------------+---------------+----------------+---------------+
|Type of        |Expiration date|Exercise/      |No. of voting   |Percentage of  |
|financial      |               |conversion     |rights that may |voting rights  |
|instrument     |               |period/date    |be acquired (if |               |
|               |               |               |the instrument  |               |
|               |               |               |exercised/      |               |
|               |               |               |converted)      |               |
+---------------+---------------+---------------+----------------+---------------+
|-              |               |               |                |               |
|               |               |               |                |               |
|               |               |               |                |               |
+---------------+---------------+---------------+----------------+---------------+



+-----------------------------------------------------------------------------+
|Total (A+B)                                                                  |
|                                                                             |
|                                                                             |
+--------------------------------------+--------------------------------------+
|Number of voting rights               |Percentage of voting rights           |
+--------------------------------------+--------------------------------------+
|1,560,000                             |11.26%                                |
|                                      |                                      |
|                                      |                                      |
+--------------------------------------+--------------------------------------+



+-----------------------------------------------------------------------------+
|9. Chain of controlled undertakings through which the voting rights and /or  |
|the financial instruments are effectively held, if applicable:               |
+-----------------------------------------------------------------------------+
|F&C Asset Management plc:-                                                   |
|Client                       No. of voting % of total  Registration name     |
|                             rights        voting                            |
|                                           rights                            |
|Foreign & Colonial           1,500,000     10.83       Chase Nominees        |
|Investment Trust plc                                   Limited               |
|Other client holds under 3%                                                  |
+-----------------------------------------------------------------------------+

+-----------------------------------------------------------------------------+
|Proxy Voting:                                                                |
|                                                                             |
|                                                                             |
+--------------------------------------+--------------------------------------+
|10. Name of proxy holder:             |F&C Asset Management plc              |
|                                      |                                      |
|                                      |                                      |
+--------------------------------------+--------------------------------------+
|11. Number of voting rights proxy     |                                      |
|holder will cease to hold:            |                                      |
|                                      |                                      |
|                                      |                                      |
+--------------------------------------+--------------------------------------+
|12. Date on which proxy holder will   |                                      |
|cease to hold voting rights:          |                                      |
|                                      |                                      |
|                                      |                                      |
+--------------------------------------+--------------------------------------+

+--------------------------------------+--------------------------------------+
|13. Additional information:           |                                      |
|                                      |                                      |
|                                      |                                      |
+--------------------------------------+--------------------------------------+
|14 Contact name:                      |Mike Bassi, F&C Asset Management plc  |
|                                      |                                      |
|                                      |                                      |
+--------------------------------------+--------------------------------------+
|15. Contact telephone name:           |0131 718 1093                         |
|                                      |                                      |
|                                      |                                      |
+--------------------------------------+--------------------------------------+





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