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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)

24 November 2009

Completion of 31 October 2009 Share Conversion and Cancellation of treasury Shares

The Company announces that it has today cancelled 150,000 Euro treasury shares and 650,000 US Dollar treasury shares 

Following the publication on 20 November 2009 of the final month-end net asset values for 31 October 2009, the following share conversion ratios have been determined in accordance with the articles of association of the Company for the purposes of the 31 October 2009 share conversion date:

On the basis of aggregate applications received and using the conversion ratios listed above, the following shares will be issued: 

• 774,971 new Sterling shares of no par value

and the following shares will be cancelled: 

• 719,341 Euro shares of no par value; and

• 222,618 US Dollar shares of no par value

all with effect from 24 November 2009.

Application has been made to the Financial Services Authority ("FSA") for the new shares to be admitted to the Official List of the UK Listing Authority and admitted to trading on the London Stock Exchange's main market for listed securities. 

Admission is expected to occur on 30 November 2009. Shareholder CREST accounts for converting shareholders are expected to be updated by 5.00pm on 25 November 2009.

Following issue and cancellation of the relevant shares, the total number of shares in issue in each class will be as follows:

-    6,564,333 Euro Shares

-    569,712 Euro Treasury Shares

-    27,259,086 US Dollar Shares

-    2,385,662 US Dollar Treasury Shares

-    30,176,595 Sterling Shares; and

-    2,345,605 Sterling Treasury Shares

The number of votes each share in the Company is entitled to on a poll at any general meeting of the Company was published by the Company on 23 May 2008 and will not change as a result of the conversions. These are:

US Dollar Share        1

Euro Share                 1.57465

Sterling Share            1.97950

From 24 November 2009, the total number of voting rights in the Company (rounded down to the whole number) is 97,330,183.

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Andrew Maiden +44 (0)1481 745368

Website:    www.bhglobal.com