Transaction in own shares in Amsterdam

BOUSSARD & GAVAUDAN HOLDING LIMITED


       July 2008 TRANSACTION IN OWN SECURITIES ACTIVITY REPORT




+-----------------------------------------------------------------+
| The aggregate number of transactions               |     34     |
| conducted in Amsterdam (AEX) in July 2008          |            |
|----------------------------------------------------+------------|
| The average size of the transactions               |   42,604   |
|----------------------------------------------------+------------|
| The number of Euro shares in issue following       | 80,954,999 |
| such Purchases                                     |            |
+-----------------------------------------------------------------+


For further information please contact:

Emmanuel Gavaudan
Boussard & Gavaudan Asset Management, LP
[phone]

This announcement is for information purposes only and is not an
offer to invest. The Company is registered with the Dutch Authority
for the Financial Markets as a collective investment scheme which may
offer participations in The Netherlands pursuant to article 2:66 of
the Financial Markets Supervision Act (Wet op het financieel
toezicht).  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 decision.  The value of investments may
fluctuate.  Results achieved in the past are no guarantee of future
results.

---END OF MESSAGE---