B&G Holding Appoints UBS as Sponsor of Crea...

Boussard & Gavaudan Holding Limited ("B&G Holding" or the  "Company")
today announces that it is now presenting proposals for the  creation
of a  sterling class  of  ordinary shares  to  be listed  and  traded
alongside  the  existing  euro  ordinary  shares  class  on  Euronext
Amsterdam by NYSE Euronext ("Euronext Amsterdam").  In addition,  the
Company is making an  application for admission  of its sterling  and
euro classes  of  shares to  the  Official  List of  the  UK  Listing
Authority (the "Official List")  and to trading  on the London  Stock
Exchange's main market for listed securities ("LSE"), creating a dual
primary listing  for  B&G  Holding  in  London  and  Amsterdam.   UBS
Investment Bank will be appointed as financial adviser in  connection
with the dual primary listing and  as sponsor in connection with  the
admission to the Official List.

The sterling share class  will be created  through the conversion  of
existing euro  shares  into  sterling shares  at the  prevailing  net
asset value per  euro share at  the specified conversion  calculation
date.  Shareholders wishing to participate in the conversion  process
will be  required  to  notify  the Company  prior  to  the  specified
conversion calculation date and it is expected that they will receive
their sterling  shares  shortly after  admission  to trading  of  the
sterling  shares.   Thereafter  each  quarter  shareholders  will  be
offered the right to  convert shares from one  class into another  at
the  prevailing  net  asset  value   per  share  at  the   conversion
calculation date at the end of the relevant quarter.

B&G Holding has convened an Extraordinary General Meeting for 17 June
at which it will  seek shareholder approval for  the creation of  the
sterling share class and the establishment of a quarterly  conversion
facility to permit shareholders to  switch between euro and  sterling
shares.  Admission of the sterling  shares to listing and trading  on
Euronext Amsterdam and the admission of the sterling and euro  shares
to the Official List  and to trading  on the LSE  is expected in  the
early second half of 2008.

Emmanuel Gavaudan, CEO  of Boussard &  Gavaudan Asset Management  LP,
commented:

"I am delighted  that B&G Holding  has decided to  go ahead with  the
creation of a  sterling share  class and  a dual  primary listing  in
Amsterdam and London. These measures are aimed at achieving liquidity
and transparency for the benefit of shareholders and it is hoped that
the  quarterly  conversion  facility  will  assist  B&G  Holding   in
accomplishing  these  objectives.  The  proposals  the  Company   has
announced are  intended  to  be shareholder  friendly  and  to  bring
long-term benefits to all investors."


For further information, please contact:


B&G Asset Management             [phone]
Emmanuel Gavaudan

Financial Dynamics               [phone]
Rob Bailhache
Nick Henderson

UBS Investment Bank              [phone]
John Humphrey
Joe Winkley



www.bgholdingltd.com

The Company is  established  as  a  closed-ended  investment  company
domiciled  in  Guernsey.  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 is not an offer  to sell or a solicitation  of any offer to  buy
any securities in  the United  States or in  any other  jurisdiction.
This announcement is not intended to and does not constitute, or form
part of, any offer  or invitation to purchase  any securities or  the
solicitation of any vote or  approval in any jurisdiction, nor  shall
there be any sale, issuance or transfer of the securities referred to
in  this  announcement  in  any  jurisdiction  in  contravention   of
applicable law.

Neither the Company nor the Sark Fund have been, and neither will be,
registered under the US  Investment Company Act  of 1940, as  amended
(the  "Investment  Company   Act").   In   addition  the   securities
referenced in  this  announcement  have  not been  and  will  not  be
registered under  the US  Securities  Act of  1933, as  amended  (the
"Securities Act").  Consequently  any  such  securities  may  not  be
offered, sold or  otherwise transferred within  the United States  or
to, or for the account or benefit of, US persons except in accordance
with  the  Securities  Act  or  an  exemption  therefrom  and   under
circumstances which ill not require the issuer of such securities  to
register under the Investment Company Act. No public offering of  any
securities will be made in the United States.

UBS Limited ("UBS"  or "UBS Investment  Bank") is acting  exclusively
for B&G  Holding and  no-one else  in connection  with the  offer  of
sterling shares and the admission of sterling shares and euro  shares
to the Official List and to trading  on the LSE. UBS does not  regard
any other person (whether or not a recipient of this announcement) as
its client  and will  not be  responsible to  anyone other  than  B&G
Holding for providing  the protections afforded  to its clients,  nor
for  providing  advice  in  connection  with  the  contents  of  this
announcement or any transaction, arrangement or other matter referred
to herein.

No representation or warranty, express  or implied, is made or  given
by or on behalf of UBS or any of its respective affiliates or any  of
such person's directors, officers or employees or any other person as
to the  accuracy,  completeness or  fairness  of the  information  or
opinions contained  in this  announcement  and no  responsibility  or
liability is accepted for any such information or opinion.