Renewed of the Liquidity Enhancement Agreement ...

Boussard & Gavaudan Holding Limited
a closed-ended investment company incorporated with limited liability
      under the laws of Guernsey with registration number 45582

 Renewed of the Liquidity Enhancement Agreement for 2009 with Exane


Boussard & Gavaudan Holding  Limited (the "Company") announces  today
that  it  has  renewed  the  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.

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 will credit the  liquidity account with an  initial sum of  ¤
830,000. This amount may be increased up to a maximum of ¤ 10 million
per year.

27 January 2009

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.


This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.