Transaction in Own Shares

24 March 2017

NB Distressed Debt Investment Fund Limited

(the "Company")

Transaction in Own Shares

The Company announces that pursuant to the general authority granted by shareholders of the Company on 24 August 2016 to make market purchases of its own Global ordinary share capital ("New Global Shares") it repurchased 50,000 New Global Shares at a price of 78.00 pence per New Global Share, to be held in Treasury, on 23 March 2017. This represents approximately 0.045 per cent of the Company's current issued New Global Shares.

Following this transaction, the Company has 110,785,785 New Global Shares in issue of which 10,632,000 are held in treasury. The Company also has 205,118,692 Extended Life Shares and 35,218,587 Ordinary Shares in issue of which none are held in treasury. All shares have 1 vote per share.

For reporting purposes under the FCA's Disclosure and Transparency Rules the market should exclude any shares held in treasury and should use the figure of 340,491,064 total voting rights when determining if they are required to notify their interest in, or a change to their interest in the Company.

Enquiries:

Carey Group

Claire McSwiggan

01481 737281