Result of Conversion

London, UNITED KINGDOM


Boussard & Gavaudan Holding Limited
a closed-ended investment company incorporated with limited liability under the laws of Guernsey with registration number 45582
 
Result of conversion
 
Boussard & Gavaudan Holding Limited ("B&G Holding" or the "Company") today announces the result of the facility to convert existing holdings (the "Conversion") of Euro shares in the Company ("Euro Shares") into Sterling shares in the Company (the "Sterling Shares") and, of Sterling Shares into Euro Shares in the Company for the 30 September 2008 conversion calculation date (the "September Conversion Calculation Date").
 
Conversion
 
The aggregate number of Shares for which conversion request forms were received for the September Conversion Calculation Date was:
 
129,077 Euro shares
395,197 Sterling shares
 
The Company intends to announce the conversion ratio when it becomes available following the publication of the final net asset value of the Euro and Sterling Shares referable to the September Conversion Calculation Date.
 
Anticipated timetable for Conversion
 
Completion of the Conversion is expected to take place on the following indicative timetable:
 
 
25 September 2008
 
 
B&G Asset Management          +44 20 7514 0700
Emmanuel Gavaudan    
 
The Company is established as a closed-ended investment company domiciled in Guernsey. The Company has received the necessary approval of the Guernsey Financial Services Commission and the States of Guernsey Policy Council. The Company is registered with the Dutch Authority for the Financial Markets as a collective investment scheme pursuant to article 2:73 in conjunction with 2:66 of the Dutch Financial Supervision Act (Wet op het financieel toezicht).
 
This announcement 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 decision. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results.