Net Asset Value(s)

BH Macro Limited
05 February 2008


                        BH MACRO LIMITED (the 'Company')

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





Weekly Announcement of Estimated Net Asset Values


As at the close of business on 01st February 2008 the estimated Net Asset Values
of each class of the Company's shares are as follows:



FUND NAME                NAV         SEDOL          NAV DATE
BH Macro Limited         $13.25      B1NPGV1        1st February 2008
BH Macro Limited         1333p       B1NP514        1st February 2008
BH Macro Limited         €13.11      B1NPGZ5        1st February 2008



The Net Asset Value figures in this announcement are an estimate, and are based
on unaudited estimated valuations. The final month-end Net Asset Value may be
materially different from these estimated weekly 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: 05th February 2008




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