Change of Administrator and Amendment to IMA

10 June 2013

Kubera Cross-Border Fund Limited

Change of Administrator and Amendment to Investment Management Agreement

Kubera Cross-Border Fund Limited (the "Fund") announces that it has appointed IOMA Fund and Investment Management Limited ("IOMA") as administrator, registrar and company secretary to the Fund.

IOMA will be paid an annual fee of US$ 95,000, charged quarterly in arrears (the "Administration Fees"). The Administration Fees will be reviewed annually and will be adjusted by mutual agreement following the disposal of any substantial asset held by the Fund.

IOMA will work closely with Cim Fund Services Ltd in Mauritius, who will continue as administrator and secretary of Kubera Cross-Border Fund (Mauritius) Limited, a subsidiary of the Fund, and will continue to assist in providing administrative services to the Fund and its other subsidiaries.

The Fund has also amended the terms of the Investment Management Agreement entered into with the Fund's Investment Manager, Kubera Partners LLC (the "Manager"), reducing the investment management fees payable to the Manager by the amount of the Administration Fees payable to IOMA.

The amendment to the terms of the Investment Management Agreement constitutes a related party transaction under AIM Rule 13. The Independent Directors, having consulted with the Fund's Nominated Adviser, believe the proposed amendments to the Investment Management Agreement described above are fair and reasonable insofar as the Fund's shareholders are concerned.

About Kubera Cross-Border Fund Limited

Kubera Cross-Border Fund Limited 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

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/ David Hignell, Manager

Tel.: +44 (0) 20 7383 5100

Email: [email protected]

IOMA Fund and Investment Management Limited (Administrator, Registrar & Secretary)

Philip Scales, Director

Tel.: +44 (0) 1624 681250

Email: [email protected]