Capital Distribution

7 October 2010

Kubera Cross-Border Fund Limited

Capital Distribution

Kubera Cross-Border Fund Limited (the "Fund") (LSE/AIM: KUBC) is pleased to announce a distribution of capital of US$ 30,725,610 pro rata to all shareholders of the Fund. The distribution will consist of a payment of US$ 0.28 per ordinary share ("share") payable in cash from the Fund's share premium account. The shares will be marked "ex" on 13 October 2010 and will be paid to shareholders on the register on 15 October 2010. The distribution will be paid within 20 business days of the record date.

The distribution of US$ 0.28 per share represents an amount equal to 29% percent of the Fund's closing share mid-price of US$ 0.96 as of 6 October 2010. The Fund's unaudited net asset value as of 30 June 2010 was US$ 1.18 per share.

About Kubera Cross-Border Fund Limited

The Fund is a closed-end investment company incorporated in the Cayman Islands and traded on the AIM market of the London Stock Exchange. The Fund makes private equity investments in cross-border companies, primarily in businesses that operate in the US-India corridor. The Fund's investment manager, Kubera Partners, brings a strong track record of investing in or managing such businesses. Several of the Fund's portfolio companies also benefit from business activities in the growing Indian domestic market. For further information on the Fund, please visit www.kuberacrossborderfund.com.

For more information contact:

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

Ramanan Raghavendran, Managing Partner

Tel.: +1 (212) 295 2400

Email: [email protected]

Numis Securities Limited (Broker)

David Benda, Director

Tel.:+44 (0) 20 7260 1275

Email: [email protected]

Grant Thornton Corporate Finance (Nominated Adviser)

Philip Secrett, Partner

Tel.: +44 (0) 20 7383 5100

Email: [email protected]