Letter reOperational Serv Fee

BH Macro Limited
17 January 2008


                                RNS ANNOUNCEMENT


                          For release 17 January 2008





                                BH MACRO LIMITED


(a closed-ended investment company incorporated with limited liability under the
                 laws of Guernsey with registered number 46235)



Date 17 January 2008



On 20 December 2007, BH Macro Limited (the 'Company'), a feeder fund to Brevan
Howard Master Fund Limited (the 'Master Fund'), announced an increase in the
operational services fee paid by the Master Fund to Brevan Howard Asset
Management LLP ('BHAM') from 1/12 of 0.3 per cent per month to 1/12 of 0.5 per
cent per month of the net asset value of the Master Fund, with effect from 1
February 2008.


The directors of the BH Macro Limited have resolved that it would not be in the
best interests of the Company to take any action to withdraw or redeem its
investment in the Master Fund as a result of the increase and have executed and
delivered the attached letter to the Company's manager, Brevan Howard Offshore
Management Limited.



See the attached pdf link to letter signed by board


http://www.rns-pdf.londonstockexchange.com/rns/0253m_-2008-1-17.pdf





For further information please contact:


Eleanor Fitzgerald

Northern Trust International Fund Administration Services (Guernsey) Limited as
company secretary to BH Macro Limited


Tel: [phone]



                      This information is provided by RNS
            The company news service from the London Stock Exchange