19 January 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 Extended Life ordinary share capital ("Extended Life Shares"), it repurchased 20,000 Extended Life Shares at a price of $0.94 per Extended Life Share, to be cancelled, on 18 January 2017. This represents approximately 0.0093 per cent of the Company's current issued Extended Life Shares.

Following this transaction, the Company has 110,785,785 New Global Shares in issue of which 10,210,000 are held in treasury. The Company also has 215,563,854 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 351,358,226 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