Capital Distribution

20 July 2012

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$ 2,194,686 pro rata to all shareholders of the Fund. The distribution will consist of a payment of US$ 0.02 per ordinary share ("share") payable in cash from the Fund's share premium account.

The shares will be marked "ex" on 25 July 2012 and will be paid to shareholders on the register on 27 July 2012.

The distribution of US$ 0.02 per share represents an amount equal to 3.5% percent of the Fund's closing share mid-price of US$ 0.57 as of 19 July 2012. The Fund's unaudited net asset value as of 30 June 2012 was US$ 0.90 per share.

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: info@kuberapartners.com

Numis Securities Limited (Broker)

David Benda, Managing Director

Tel.: +44 (0) 20 7260 1275

Email: d.benda@numis.com

Grant Thornton Corporate Finance (Nominated Adviser)

Philip Secrett, Partner/ David Hignell, Manager

Tel.: +44 (0) 20 7383 5100

Email: philip.j.secrett@uk.gt.com