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)       

                                Transparency Reporting                             
                                    25 August 2016                                 

    As an investor in Brevan Howard Multi-Strategy Master Fund Limited (the "Master
    Fund"), the Company has exposure to investments by the Master Fund, directly or
    indirectly, in a series of other investment funds (the "Target Funds").  The
    Company has received from International Fund Services a series of Investor
    Transparency Reports relating to the Net Asset Value of the Master Fund and
    certain of the Target Funds it administers as at 31 July 2016.  The reports are
    available on the Company's website, which can be accessed at www.bhglobal.com.

    Enquiries:

    Company website: www.bhglobal.com

    Northern Trust International Fund Administration Services (Guernsey) Limited
    Rebecca Booth
    Tel: +44 (0) 1481 745189