BH Macro Limited (the "Company")

(a closed-ended investment scheme established as a company with limited liability under the laws of Guernsey with registered number 46235)

5 January 2010

Issue of Equity

The Board of BH Macro Limited announces that today it sold 100,000 Sterling shares from Treasury at 1789p per share.  The shares were issued at a premium to the prevailing net asset value. These shares rank pari passu with the existing ordinary shares in issue.

Following this sale of Sterling treasury shares, the total number of shares in issue in each class will be as follows:

-           16,805,013 Euro Shares

-           1,572,013 Euro Treasury Shares

-           40,229,944 US Dollar Shares

-           4,438,476 US Dollar Treasury Shares

-           27,218,789 Sterling Shares; and

-           877,595 Sterling Treasury Shares

From 5 February 2010, the total number of voting rights in the Company (rounded down to the whole number) is 87,442,747.

Company website:        www.bhmacro.com

Enquiries:

William Simmonds       

J.P. Morgan Cazenove Limited

Tel:       020 7588 2828

Andrew Maiden

Northern Trust International Fund Administration Services (Guernsey) Limited

Tel:       +44 (0) 1481 745368

END