BH Credit Catalysts Limited (the "Company")

       (a closed-ended investment scheme established as a company with
  limited liability under the laws of Guernsey with registered number 52520)

                        December 2014 Share Conversion

                                2 January 2015

The Company has received (in aggregate) the following share
conversion requests from shareholders for the 31 December 2014 Share
Conversion Date:

- 40,000 US Dollar shares to be converted to Sterling shares

Conversions will take place as soon as practicable after the
Company's month-end net asset value figures for December 2014 are released.
Converting shareholders will be notified upon conversion taking place, which
will be no later than 25 business days after 31 December 2014.

Company website: www.bhcreditcatalyts.com

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited
Andrew Maiden
Tel: +44 (0)1481 745368