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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)

23 December 2009

Completion of 30 November 2009 Share Conversion

Following the publication on 18 December 2009 of the final month-end net asset values for 30 November 2009, the following share conversion ratios have been determined in accordance with the articles of association of the Company for the purposes of the 30 November 2009 share conversion date:

0.907953	Sterling shares for each Euro share
0.603623	Sterling shares for each US Dollar share
1.101378	Euro shares for each Sterling share
0.664869	Euro shares for each US Dollar share
1.656662	US Dollar shares for each Sterling share
1.504055	US Dollar shares for each Euro share

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

• 1,361,812 new Sterling shares of no par value

and the following shares will be cancelled: 

• 1,172,145 Euro shares of no par value; and

• 492,947 US Dollar shares of no par value

all with effect from 23 December 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 31 December 2009. Shareholder CREST accounts for converting shareholders are expected to be updated by 5.00pm on 23 December 2009.

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

-    5,392,188 Euro Shares

-    569,712 Euro Treasury Shares

-    26,766,139 US Dollar Shares

-    2,385,662 US Dollar Treasury Shares

-    31,461,725 Sterling Shares; and

-    2,422,287 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 23 December 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

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