Net Asset Value(s)

BH Macro Limited
03 May 2007


                        BH MACRO LIMITED (the 'Company')

 (a closed-ended investment company incorporated in Guernsey with registration
                                 number 46235)

Announcement of Estimated Month-End Net Asset Values

As at the close of business on 30th April 2007 the estimated month-end Net Asset
Values of each class of the Company's shares are as follows:

    FUND NAME               NAV                SEDOL            NAV DATE

  BH Macro Limited         $10.09              B1NPGV1       30th April 2007
  BH Macro Limited         1008p               B1NP514       30th April 2007
  BH Macro Limited         €10.06              B1NPGZ5       30th April 2007

The Net Asset Value figures in this announcement are an estimate, and are based
on unaudited estimated valuations. The final month-end Net Asset Values may be
materially different from these estimated values, and should only be taken as
indicative values which have been provided for information only and no reliance
should be placed on them. Estimated results, performance or achievements may
differ materially from any actual results, performance or achievements. Except
as required by applicable law, the Company expressly disclaims 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.

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Harry Rouillard 44 (0)1481 745315

Date: 03rd May 2007




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