Conversion of Securities

BH Macro Limited
02 April 2008


BH Macro Limited
2 April 2008

BH Macro Limited (the 'Company')

The Company has received (in aggregate) the following share conversion requests
from shareholders for the 31 March 2008 Conversion Date:

- 435,957 US dollar shares to be converted to Sterling shares

- 445,309 Euro shares to be converted to Sterling shares

- 315,497 Euro shares to be converted to US dollar shares

- 28,052 Sterling shares to be converted to Euro shares

- 215,100 Sterling shares to be converted to US dollar shares


Conversions will take place as soon as practicable after the Company's month-end
net asset value figures for March are released. Converting shareholders will be
notified upon conversion taking place which will be no later than 25 business
days after 31 March 2008.


Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Harry Rouillard 44 (0)1481 745315




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