AIM Rule 17 Notice

10 November 2011

Kubera Cross-Border Fund Limited

AIM Rule 17 Notice

Kubera Cross-Border Fund Limited (the "Fund") (LSE/AIM: KUBC) announces that pursuant to Rule 17 of the AIM Rules for Companies ("AIM Rules") the following change to a director's disclosure under Schedule Two, Paragraph (g) of the AIM Rules:

Mr Michel Casselman, an independent director of the Fund, was formerly a non-executive director of New Paragon Investments Limited ("NPIL"), a company incorporated in Hong Kong. Mr Casselman resigned from the board of NPIL on 22 June 2010 and subsequently, on 16 May 2011, NPIL was placed into a Creditors' Voluntary Liquidation.

For more information contact:

Kubera Partners, LLC (Investment Manager of Kubera Cross-Border Fund Limited)

Ramanan Raghavendran, Managing Partner

Email: info@kuberapartners.com

Numis Securities Limited (Broker)

David Benda, Director

Tel.:+44 (0) 20 7260 1275

Email: d.benda@numiscorp.com

Grant Thornton Corporate Finance (Nominated Adviser)

Philip Secrett, Partner/ David Hignell, Manager

Tel.: +44 (0) 20 7383 5100

Email: philip.j.secrett@gtuk.com

Disclaimer:

This announcement may contain certain forward-looking statements with respect to the financial condition, results of operations and business of the Fund and its portfolio companies. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Fund or its portfolio companies' actual performance to be materially different from any future performance expressed or implied by such forward-looking statements. Such forward-looking statements are based on assumptions regarding the Fund and its portfolio companies present and future business strategies and the political and economic environment in which they operate. Reliance should not be placed on these forward-looking statements, which reflect the view of Kubera Partners, LLC as of the date of this release only.