BH CREDIT CATALYSTS LIMITED - Net Asset Value(s)

                  BH CREDIT CATALYSTS LIMITED (the "Company")

    (a closed-ended investment collective investment scheme registered and
           incorporated in Guernsey with registration number 52520)

Weekly Announcement of Estimated Net Asset Values

As at the close of business on 19th December 2014 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 Credit    B4T5WS5    $13.59    -0.48%        +4.52%       19th December 2014
Catalysts
Ltd

BH Credit    B4XV933    1365p     -0.48%        +4.64%       19th December 2014
Catalysts
Ltd


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 of
BHCCFL 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.

Month to date performance figures are calculated by reference to the previous
estimated month end NAV or, if published, the previous month end confirmed NAV.
The year to date 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: 23rd December 2014

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