Transaction in Own Shares

20 April 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 New Global ordinary share capital ("New Global Shares") and of its own Extended Life ordinary share capital ("Extended Life Shares"), it repurchased 30,200 New Global Shares at a price of 77.50 pence per New Global Share, to be cancelled, on 19 April 2017. The Company also repurchased 35,000 Extended Life Shares at a price of $0.92 per Extended Life Share, to be cancelled, on 19 April 2017. This represents approximately 0.027 per cent of the Company's current issued New Global Shares and approximately 0.0171 per cent of the Company's current issued Extended Life Shares.

Following this transaction, the Company has 110,530,585 New Global Shares in issue of which 10,657,000 are held in treasury. The Company also has 204,947,692 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 340,039,864 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