Director Declaration

BH Macro Limited (the "Company")                        

  (a closed-ended collective investment scheme established as a company with   
  limited liability under the laws of Guernsey with registered number 46235)   

                             Director Declaration                              

                                2 January 2015                                 

In compliance with Listing Rule 9.6.14, BH Macro Limited announces that Mr
Christopher Legge, a Director, has informed the Company of the following:

  * that with effect from 1 January 2015, Mr Legge became a director of
    Schroder Global Real Estate Securities Limited, a company which has a
    premium listing segment of the Official List and trading on the London
    Stock Exchange's main market for listed securities.
   

Enquiries:

Company website:        www.bhmacro.com
 

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited
Andrew Maiden
Tel:    [phone]