Conversion of Securities

BH Macro Limited
03 October 2007


BH Macro Limited
3 October 2007

BH Macro Limited (the 'Company')

Following the issue of the Share Conversion Notice on 14 September 2007, the
Company has received (in aggregate) the following share conversion requests from
shareholders for the 28 September 2007 Conversion Date:

- 93,080 US dollar shares to be converted to Sterling shares

- 1,000,000 US dollar shares to be converted to Euro shares

- 2,460,920 Euro shares to be converted to US dollar shares

- 106,295 Euro shares to be converted to Sterling shares

- 11,787 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 September are released. Converting shareholders will
be notified upon conversion taking place which will be no later than 25 business
days after 28 September 2007.


Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited
Harry Rouillard 44 (0)1481 745315




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