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 March 2017 Share Conversion                  

                                     26 April 2017                                 

    Following the publication on 21 April 2017 of the final month-end net asset
    values for 31 March 2017, the following share conversion ratios have been
    determined in accordance with the Articles of Incorporation of the Company for
    the purposes of the 31 March 2017 share conversion date:

    0.796149 Sterling shares for each US Dollar share
                                                     
    1.256046 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:

      * 393,101 Sterling shares of no par value;

    and the following shares will be cancelled:

      * 493,754 US Dollar shares of no par value;

    all with effect from 26 April 2017.

    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 or about 2 May 2017.  Shareholder CREST
    accounts for converting shareholders are expected to be updated by 5.00pm on 2
    May 2017.

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

    -           4,154,401          US Dollar Shares

    -           428,455 US Dollar Treasury Shares

    -           22,527,044        Sterling Shares

    -           2,361,653          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 April 2017, the total number of voting rights in the Company (rounded
    down to the whole number) is 48,746,684.

    Enquiries:

    Website:           www.bhglobal.com

    Northern Trust International Fund Administration Services (Guernsey) Limited
    Company Secretary
    Tel:  +44 (0) 1481 745736