Quarterly Newsletter

24 October 2011

Kubera Cross-Border Fund Limited

Quarterly Newsletter

Kubera Partners, the investment manager of Kubera Cross-Border Fund Limited (LSE/AIM: KUBC) (the "Fund"), has issued a newsletter detailing the activities of the Fund and its portfolio companies for the quarter ended 30 September 2011.

Electronic copies of the report have been emailed to shareholders. Copies of the report will be available on the Fund's website, www.kuberacrossborderfund.com.

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

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]