BH GLOBAL AND BH MACRO ANNOUNCE SECONDARY LISTING IN DUBAI

BH Global Limited (“BH Global”) and BH Macro Limited (“BH Macro”), the two London Stock Exchange (“LSE”)-listed closed-ended feeder funds managed by Brevan Howard Offshore Management Limited, have listed on the Dubai International Financial Exchange (DIFX) today. The US dollar denominated share classes of both companies are now listed on the DIFX, in addition to the listing of those shares on the LSE and on the Bermuda Stock Exchange. No additional capital raising is being undertaken and no new securities are being issued by either company in connection with the listing on the

DIFX.

BH Global solely invests in the Brevan Howard Global Opportunities Master Fund Limited which seeks to spread risk by investing in a variety of funds managed by the Brevan Howard group of affiliated entities to provide exposure to a range of strategies, asset classes and geographies. BH Macro invests all of its assets (net of cash retained for working capital) in the Brevan Howard Master Fund Limited which is a global macro/relative value absolute return fund which has exposure primarily to global fixed income and FX markets.

“We are very pleased to be one of the first funds to list on the Dubai International Financial Exchange,” said Lord Turnbull, chairman of BH Global. “The listing should enhance BH Global’s profile in the area and increase our opportunities to strengthen further and diversify BH Global’s shareholder base.” The Chairman of BH Macro, Ian Plenderleith, added: “The listing in Dubai should increase secondary market liquidity for BH Macro. Because of the DIFX’s strategic position between Western Europe and East Asia, and because of the exchange’s close links to investors in its own region and around the world, we anticipate considerable additional investor interest.” Brevan Howard is one of the largest hedge fund managers in Europe with more than US$26 billion of assets under management (as at 30 September 2008).