Inc in operational services

BH Macro Limited
20 December 2007


BH Macro Limited
20th December 2007

BH Macro Limited, a feeder fund to Brevan Howard Master Fund Limited (the '
Master Fund'), has been sent a copy of the following letter from Brevan Howard
Asset Management LLP ('BHAM') to the directors of the Master Fund regarding a
proposed increase (from 1 February 2008) in the operational services fee paid by
the Master Fund to BHAM.

http://www.rns-pdf.londonstockexchange.com/rns/4443k_-2007-12-20.pdf

Important Information
The material relating to BHML, BHMF and other feeder funds investing in BHMF
included in this announcement and its linked content has been prepared by BHAM
and is provided for information purposes and does not constitute an invitation
or offer to subscribe for or purchase any of the products or services mentioned.
The material provided is not intended to provide a sufficient basis on which to
make an investment decision. Information and opinions presented in the material
relating to BHML, BHMF and other feeder funds investing in BHMF have been
obtained or derived from sources believed by BHAM to be reliable, but BHAM makes
no representation as to their accuracy or completeness.

Estimated results, performance or achievements may materially differ from any
actual results, performance or achievements. Except as required by applicable
law, BHML and BHAM expressly disclaim any obligations to update or revise such
estimates to reflect any change in expectations, new information, subsequent
events or otherwise.

This document 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 decisions. BHAM is
authorised and regulated by the Financial Services Authority.




                      This information is provided by RNS
            The company news service from the London Stock Exchange
     MSCFEAFWSSWSEFE