BH MACRO LIMITED - Net Asset Value(s)

BH MACRO LIMITED (the "Company")

 (a closed-ended investment company incorporated in Guernsey with registration
                                 number 46235)

Weekly Announcement of Estimated Net Asset Values

As at the close of business on 13th February 2015 the estimated Net Asset Values of
each class of the Company's shares are as follows:

Fund Name     Sedol      NAV        MTD         YTD         NAV Date
                                    Performance Performance

BH Macro Ltd  B1NPGV1    $21.15     -0.54%      2.57%       13th February 2015

BH Macro Ltd  B1NP514    2198p      -0.53%      2.71%       13th February 2015

BH Macro Ltd  B1NPGZ5    €21.29     -0.54%      2.77%       13th February 2015



The Net Asset Value figures in this announcement are an estimate, and are based
on unaudited estimated valuations. The final month-end Net Asset Value may be
materially different from these estimated weekly values, and should only be
taken as indicative values which have been provided for information only and no
reliance should be placed on them. Estimated results, performance or
achievements may differ materially from any actual results, performance or
achievements. Except as required by applicable law, the Company expressly
disclaims any obligations to update or revise such estimates to reflect any
change in expectations, new information, subsequent events or otherwise.

This document is for information purposes only and is not an offer to invest.
All investments are subject to risk. Past performance is no guarantee of future
returns. Prospective investors are advised to seek expert legal, financial, tax
and other professional advice before making any investment decisions.

The MTD performance figures are calculated by reference to the previous
estimated month end NAV or, if published, the previous month end confirmed NAV.
The YTD performance figures are calculated by reference to the NAV at the end
of the last calendar year. MTD and YTD performance figures are based on the NAV
per share calculated to four decimal places.

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited
Harry Rouillard 44 (0)1481 745315
Date: 17th February 2015