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                              

                                  14 May 2015                                  

In compliance with Listing Rule 9.6.14, BH Macro Limited announces that Claire
Whittet, an independent non-executive Director, has informed the Company of the
following:

  - that with effect from 13 May 2015, she became a non-executive independent
    director of Riverstone Energy Limited ("REL"), 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]