Share Buy Back

 

Boussard & Gavaudan Holding Limited (the "Company") today announces the implementation of a share buy-back programme solely in respect of the Euro shares of the Company ("Euro Shares") on Euronext Amsterdam by NYSE Euronext ("Euronext Amsterdam") of up to 10% of the Company's outstanding Euro Shares.

 

The share buy-back programme will commence on 29 August 2008 and will continue while the Company has the authority from shareholders to buy back its shares. The Company has shareholder authority to make market purchases up to 14.99% of the aggregate number of its shares in issue from time to time and that authority will expire at the conclusion of the annual general meeting of the Company in 2009, unless such authority is varied, revoked or renewed prior to such time by the shareholders.

 

The share buy-back programme will be effected by Boussard & Gavaudan Asset Management, LP (the "Investment Manager") on behalf of the Company and the programme will be effected on Euronext Amsterdam only for the Euro Shares.

 

Any Euro Shares bought back will be subsequently cancelled by the Company, except for those held in treasury and used for the compensation of the Investment Manager's employees.

 

The maximum price which may be paid for a Euro Share is not more than 5% above the average of the closing quotations for the Euro Shares, as derived from Euronext Amsterdam, for the five business days before the purchase, provided that the maximum price to be paid per Euro Share under the buy-back programme shall not exceed the higher of the price of the last independent trade and the highest current independent bid on Euronext Amsterdam, and that it is not authorised to acquire Euro Shares at a price above the estimated prevailing net asset value per Euro Share on the date of the purchase. The minimum price which may be paid for a Euro Share is € 0.01.

 

The maximum daily trading volume for such purchases shall be based on the average daily volume traded in the 20 trading days preceding the date of purchase for the Euro Shares in accordance with the Buy-back and Stabilisation Regulation.

 

In cases of extremely low liquidity, the share buy back programme may exceed the 25% limit of the average daily volume. BGHL will inform the AFM in advance of its intention to deviate from the 25% limit and will never exceed 50% of the average daily volume.

 

The Company may also buy back its Sterling shares on the London Stock Exchange plc's main market for listed securities.

 

The Company will provide a daily update on the progress of the share buy-back programme to the market by means of press releases which will also be available at the Company's website www.bgholdingltd.com.

 

 

28 August 2008

 

 

 

B&G Asset Management            +44 20 7514 0700

Emmanuel Gavaudan