New Liquidity Enhancement Agreement

Boussard & Gavaudan Holding Limited announces new Liquidity
                        Enhancement Agreement

Boussard & Gavaudan Holding Limited (the "Company") announces today
that it has entered into a new Liquidity Enhancement Agreement (the
"Agreement") with EXANE BNP PARIBAS SA ("EXANE") which provides the
parameters and requirements for the Company's liquidity enhancement
policy, of which share buy-backs form part.

The Agreement supersedes in its entirety the previous liquidity
enhancement agreement with Boussard & Gavaudan Asset Management, LP.

Under the Agreement, EXANE will act independently of, and without
influence by, the Company, and will, subject to all applicable legal
and regulatory requirements, effect purchases and sales of euro
shares on Euronext Amsterdam by NYSE Euronext within the parameters
set-out in the Agreement in the name of the Company.

The purpose of the Agreement is to enhance liquidity in the trading
of the Company's euro shares on Euronext Amsterdam by NYSE Euronext.
The directors of the Company currently have shareholder authority to
purchase in the market up to 14.99 per cent of its shares in issue.
This authority will expire at the date of the Company's next annual
general meeting.

This Agreement is expiring on 31 December of the current calendar
year. It shall be renewed by tacit agreement for a term of one year
and subject to the shareholders renewing the share buy back programme
at the 2009 AGM.

To enable EXANE to operate in accordance with the Agreement the
Company has credited the liquidity account with an initial sum of ¤
1,000,000 which the amount may be increase up to a maximum of ¤
10,000, 000 per year.


14 August 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.

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