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)       

                    Completion of 31 December 2015 Share Conversion                

                                    26 January 2016                                

    Following the publication on 22 January 2016 of the final month-end net asset
    values for 31 December 2015, the following share conversion ratios have been
    determined in accordance with the articles of incorporation of the Company for
    the purposes of the 31 December 2015 share conversion date:

    0.667179 Sterling shares for each US Dollar share
                                                     
    1.498848 US Dollar shares for each Sterling share

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

      * 338 US Dollar shares of no par value

    and the following shares will be cancelled:

      * 226 GBP Sterling shares of no par value;

    all with effect from  26 January 2016

    Application has been made to the Financial Conduct Authority ("FCA") 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 1 February 2016.  Shareholder CREST accounts
    for converting shareholders are expected to be updated by 5.00pm on 1 February
    2016.

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

    -               4,809,951                US Dollar Shares

    -               435,524                   US Dollar Treasury Shares

    -               24,816,357              Sterling Shares

    -               2,594,209                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

    Sterling Share                       1.97950

    From 26 January 2016, the total number of voting rights in the Company (rounded
    down to the whole number) is 53,933,929

    Enquiries:

    Website:                www.bhglobal.com

    Northern Trust International Fund Administration Services (Guernsey) Limited
    Paul Le Ray
    Tel:  +44 (0) 1481 745815