Conversion of Securities

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)   

                          April 2015 Share Conversion                          

                                  1 May 2015                                   

The Company has received (in aggregate) the following share conversion requests
from shareholders for the 30 April 2015 Share Conversion Date:

- 400 Sterling shares to be converted to Euro shares

- 103,675 Sterling shares to be converted to US Dollar shares

- 421 US Dollar shares to be converted to Sterling shares

- 100,500 Euro 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 April 2015 are released. Converting
shareholders will be notified upon conversion taking place, which will be no
later than 25 business days after 30 April 2015.

Company website: www.bhmacro.com

Enquiries:

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