21 July 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 $0.90 per Extended Life Share, to be cancelled, on 20 July 2017. This represents approximately 0.0107 per cent of the Company's current issued Extended Life Shares.

Following this transaction, the Company has 187,651,468 Extended Life Shares in issue. The Company also has 99,398,585 New Global Shares in issue and 35,218,587 Ordinary Shares in issue. All shares have 1 vote per share.

For reporting purposes under the FCA's Disclosure and Transparency Rules the market should use the figure of 322,268,640 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

Sara Bourne

Tel: +44 (0) 1481 737 245