BH Global Limited (the "Company")

(a closed-ended investment scheme established as a company with limited liability under the laws of Guernsey with registered number 48555)

5 November 2009

Allocation to Brevan Howard Credit Catalysts Master Fund Limited

Brevan Howard Offshore Management Limited, the manager of the Company announces that on 1 November 2009, Brevan Howard Global Opportunities Master Fund Limited ("BHGO") made a new investment allocation to the US$359m (as at 30 Sep 09) Brevan Howard Credit Catalysts Master Fund Limited ("BHCC"). BHGO invested approximately $US23.2 currency equivalent across the USD, GBP and Euro share classes of BHCC. BHGO's investment in BHCC is on the same liquidity terms as the majority of its other investments, with BHGO having the ability to redeem funds on a monthly basis on 90 days notice. 

The investment objective of BHCC is to seek to generate high absolute returns through trading and investing in financial assets in the corporate credit, mortgage-backed securities, and asset-backed securities markets. Many credit funds focus on a buy-and-hold trading style of "cheap" credit assets. BHCC, by contrast, currently focuses on trading opportunities with relatively near-term payoffs and in particular on opportunities within corporate and asset-backed securities for which there are near-term catalysts for price improvement. 

BHCC launched on 1 June 2009 and in the four months to 30 September 2009 has produced NAV returns in the USD share class of 15.47% (net of fees and expenses). The Manager believes that the allocation will provide further diversification to BHGO's portfolio and additional exposure to a trading strategy with the strong potential to contribute to BH Global's long term capital appreciation.

Important Legal Information and Disclaimer

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RETURNS. This material is provided for information purposes, is intended for your use only 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. 

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Andrew Maiden 

Tel:            +44 (0)1481 745368

Website:    www.bhglobal.com