Changes to the amount allocated to the liquidit...

Changes to the amount allocated to the liquidity enhancement
                              Agreement


Boussard & Gavaudan Holding  Limited (the "Company") announces  today
that it  will  credit the  liquidity  account held  with  Exane  (the
"Liquidity Account") pursuant to the liquidity enhancement  agreement
("LEA") between the Company and Exane with an additional ¤ 1,500,000.

The total amount credited to the liquidity account will therefore  be
¤ 10,000,000.

Under the  LEA, the  company may  allocate to  this account  up to  a
maximum of
¤ 10,000,000 per year.




12 December 2008


Further information:

B&G Asset Management                          [phone]
Emmanuel Gavaudan


The Company is  a closed-ended investment  company incorporated  with
limited liability under the laws of Guernsey with registration number
45582. The  Company  has  received  the  necessary  approval  of  the
Guernsey Financial  Services Commission  and the  States of  Guernsey
Policy Council. The  Company is registered  with the Dutch  Authority
for the Financial Markets as a collective investment scheme  pursuant
to article  2:73 in  conjunction  with 2:66  of the  Dutch  Financial
Supervision Act (Wet op het financieel toezicht).

This announcement  is for  information purposes  only and  is not  an
offer  to  invest.  All  investments   are  subject  to  risk.   Past
performance is no guarantee of future returns. Prospective  investors
are  advised  to  seek  expert   legal,  financial,  tax  and   other
professional advice before making any investment decision. The  value
of investments may  fluctuate. Results  achieved in the  past are  no
guarantee of future results.




http://hugin.info/139558/R/1277135/284554.pdf


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