2014 Dividend

BACIT Limited (the "Company") (a closed-ended collective investment scheme established as a company with limited liability under the laws of Guernsey with registered number 55514) 2014 Dividend 31 July 2014 The Board of the Company is pleased to announce a dividend equivalent to 2pence per ordinary share for the year ended 31 March 2014 (the "2014Dividend"). The 2014 Dividend will be paid on 10 September 2014 to holders ofordinary shares recorded on the register as at the close of business on 8August 2014. The Board has determined that the 2014 Dividend will be paid to the QualifyingShareholders (as defined below) in the form of new ordinary shares unless thoseshareholders elect to receive the dividend in cash instead. The number of newshares that each Qualifying Shareholder will receive in payment of the 2014Dividend will be determined by multiplying the number of existing shares heldby the shareholder on the record date by the cash equivalent amount of the 2014Dividend per share and dividing the resulting number by the net asset value pershare of the Company as at 31 July 2014, and then rounding the result down tothe nearest whole number. Fractions of new shares will not be issued and cashthat otherwise would have been applied by the Company in paying up thosefractions will be retained by the Company. A "Qualifying Shareholder" is a shareholder who is not located in, or with aregistered address in, or a citizen of any of the United States, Australia,Canada, Japan, South Africa or any other jurisdiction in respect of which theoffer of new shares would or may be unlawful. Shareholders who are not Qualifying Shareholders will receive the 2014 Dividendin cash. In addition, Qualifying Shareholders can elect to receive the 2014Dividend in cash. A circular and form of election is being sent to shareholderstoday. Qualifying Shareholders who wish to receive the 2014 Dividend in cashshould complete and return the form of election by 5.00pm on 26 August 2014. Timetable: Posting of Circular and Forms of Expected 1 August 2014Election Shares quoted ex-dividend 6 August 2014 Record date for dividend 8 August 2014 Announcement of the 31 July 2014 NAV Expected during the week commencing 25 August 2014 Final date for receipt by the Receiving 5 p.m. on 26 August 2014Agent of forms of election byQualifying Shareholders who wish toreceive cash Dividend payment date 10 September 2014 Shares to be issued and cash to be paid 10 September 2014to shareholders who have opted for thecash dividend In compliance with LR 9.6.1, copies of the following documents have beensubmitted to the National Storage Mechanism and will shortly be availablefor inspection at www.hemscott.com/nsm.do: 1. 2014 Dividend circular 2. Form of election Enquiries: Company website: www.bacitltd.com Northern Trust International Fund Administration Services (Guernsey) Limited Rose Toussaint+44 (0) 1481 [email protected]