Change of Adviser

RNS Announcement

Carador Income Fund PLC ("Carador" or the "Company")

30 January 2015

Change in portfolio adviser

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, TO U.S. PERSONS OR INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN.

The Company's Investment Manager, GSO / Blackstone Debt Funds Management LLC (together with its affiliates, "GSO Blackstone"), has announced the appointment of J. Richard ("Dik") Blewitt as the Company's new portfolio adviser following the resignation of Mark Moffat from GSO Blackstone. Mr. Moffat will continue to advise the Company in a joint capacity with Mr. Blewitt for a 3 month hand over period. All other members of the GSO Blackstone structured credit investment team will remain unchanged.

The Directors wish to thank Mr. Moffat for his significant contribution to the success of the Company following his appointment in 2012.

Mr. Blewitt will, like his predecessor, continue to draw on GSO Blackstone's credit analysis and due diligence resources and all investments made by the Company will continue to be approved by GSO Blackstone's seven person Global Structured Credit Investment Committee, which includes Mr. Blewitt.

Mr. Blewitt, who is based in New York, is a Managing Director with GSO Capital Partners and focuses on structured finance/credit investments.

Before joining GSO in 2014, Mr. Blewitt was a Managing Director and Co-Head of the Securitized Asset Team at Blackrock, as well as the Partner in charge of Securitization and Insurance Products for the R3 Capital Hedge Fund. Prior to Blackrock acquiring R3, Mr. Blewitt was Head of Securitization at R3/Lehman Brothers Global Principal Strategies. Mr. Blewitt was formerly a Managing Director and Global Head of Distribution for the Global Structured Products Group at Bank of America Securities, having previously worked at JP Morgan in Structured Finance.

Carador's investment strategy will remain unchanged and GSO Blackstone has stated that it plans to continue to build on Carador's past successes.

The Directors are supportive of the change in portfolio adviser and recognise the depth of resources provided by GSO Blackstone to the management of the Company's portfolio.

Enquiries:

Susan Burke

State Street Fund Services (Ireland) Limited

Company Secretary

+353 1 776 6150

Andrew Dowler

Blackstone / GSO

+44 (0)20 7451 4275