NOTES TO FINANCIAL STATEMENTS
December 31, 2007 (unaudited)
1. Organization and Significant Accounting Policies. BBH Money Market Fund (the "Fund") is a separate,
diversified series of BBH Trust (the "Trust"), which is registered under the Investment Company Act of 1940, as
amended. The Trust is an open-end management investment company organized as a Massachusetts business
trust on June 7, 1983 and re-organized as a Delaware statutory trust on June 12, 2007. The Fund commenced
operations on December 12, 1983. The Declaration of Trust permits the Trustees to create an unlimited number
of series, each of which may issue a separate class of shares. The Fund established a new class of shares
designated as "Institutional Shares". Institutional Shares opened on December 19, 2006 and commenced
operations on January 26, 2007. Regular Shares and Institutional Shares have different operating expenses. At
December 31, 2007, there were seven series of the Trust.
Prior to June 12, 2007 the Fund invested all of its investable assets in the BBH U.S. Money Market Portfolio
(the "Portfolio"), a diversified, open-end management investment company having the same investment objectives
as the Fund. Effective June 12, 2007, the Fund redeemed its shares of the Portfolio and began investing its assets
directly. There were no changes to the Fund's investment policies and restrictions. The Fund recorded its share of
the Portfolios' income and expenses daily until the date of the redemption.
The Fund's financial statements are prepared in accordance with accounting principles generally accepted in the
United States of America, which require management to make certain estimates and assumptions at the date of
the financial statements and are based, in part, on the following accounting policies. Actual results could differ
from those estimates.
A. Valuation of Investments. The Fund values its investments at amortized cost, which approximates market
value. The amortized cost method values a security at its cost at t