<p> Boussard & Gavaudan Holding Ltd is a new closed-ended investment company registered and incorporated in Guernsey.</p>
<p> Global Offering</p>
<p> Closing of the subscription period will take place on or about 31 October 2006. Trading on Euronext Amsterdam will commence on or about 2 November 2006.</p>
<p> BNP Paribas, Lehman Brothers</p>