Investment Management Agreement

22 December 2016

Kubera Cross-Border Fund Limited

Investment Management Agreement

Kubera Cross Border Fund Limited ("KUBC" or the "Company") announces that the Investment Management Agreement ("IMA") between the Company and Kubera Partners LLC (the "Investment Manager") expired on 21 December 2016 in accordance with the ten year term set forth in the IMA.

As previously indicated, the responsibilities of the Investment Manager have now been assumed directly by the Board of Directors of the Company (the "Board"). However, the principals of the Investment Manager, Kumar Mahadeva and Ramanan Raghavendran, retain a substantial co-investment interest in the Company's assets and will continue to work closely with the Board in the disposition of these assets. Mr. Raghavendran will continue to support the Company's activities in his capacity as a member of the Board, and Mr. Mahadeva will continue to assist as needed. No change is anticipated in the oversight of the Company's investment portfolio.

For more information, contact:

Grant Thornton UK LLP (Nominated Adviser)

Philip Secrett / Jamie Barklem

Tel.: +44 (0) 20 7383 5100

Email: [email protected]

Numis Securities Limited (Broker)

David Benda, Managing Director

Tel.: +44 (0) 20 7260 1275

Email: [email protected]

FIM Capital Limited (Administrator, Registrar & Secretary)

Philip Scales, Director

Tel.: +44 (0) 1624 681250

Email: [email protected]