Transaction in own shares in Amsterdam : CANCEL...

BOUSSARD & GAVAUDAN HOLDING LIMITED


   CANCELS AND REPLACES : July 2008 TRANSACTION IN OWN SECURITIES
                           ACTIVITY REPORT




+------------------------------------------------------------+
| Aggregate number of transactions conducted in |     35     |
| Amsterdam (AEX) in July 2008                  |            |
|-----------------------------------------------+------------|
| Average size of the transactions              |   42,910   |
|-----------------------------------------------+------------|
| Number of Euro shares in issue following such | 80,901,672 |
| Purchases                                     |            |
+------------------------------------------------------------+



For further information please contact:

Emmanuel Gavaudan
Boussard & Gavaudan Asset Management, LP
[phone]

This announcement is for information purposes only and is not an
offer to invest. The Company is registered with the Dutch Authority
for the Financial Markets as a collective investment scheme which may
offer participations in The Netherlands pursuant to article 2:66 of
the Financial Markets Supervision Act (Wet op het financieel
toezicht).  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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