Conversus Announces Appointment of Liquidators and Resignation of Directors

Conversus Capital, L.P. (NYSE Euronext Amsterdam: CCAP) ("Conversus") has appointed Nicholas John Vermeulen and Evelyn Brady, partners with PricewaterhouseCoopers CI LLP, as the joint liquidators for Conversus, its general partner Conversus GP, Limited and Conversus’ remaining entities, effective immediately.

Conversus Board members Laurance Hoagland, Kathryn Matthews and Dr. Per Strömberg, as well as Conversus’ Chief Executive Officer, Tim Smith, resigned their positions in conjunction with the appointment of the joint liquidators. Paul Guilbert will remain as a Board member until the final liquidation of Conversus.

In conjunction with the completion of a liquidation period, which is expected to last up to twelve months, Conversus will make a final distribution to its unit holders in accordance with Guernsey law. While no assurances can be given as to the amount and timing of unit holder distributions, Conversus does not expect additional distributions to be made prior to the final distribution. Euronext Amsterdam has determined that Conversus’ units will be delisted from NYSE Euronext in Amsterdam, the regulated market of Euronext Amsterdam, in conjunction with the final unit holder distribution. Following the completion of the liquidation, Conversus will cease to exist.

It is anticipated that Conversus’ regulatory approval to operate as an authorized closed-ended collective investment scheme in Guernsey will be suspended during the liquidation period and that it will cease to be registered as a collective investment scheme permitted to offer participation rights in the Netherlands pursuant to article 2:66 of the Financial Market Supervision Act (Wet op het financieel toezicht).

About Conversus Capital

Conversus is a limited partnership based in Guernsey and is currently in liquidation. Upon completion of the liquidation, Conversus will cease to exist.

Legal Disclaimer

This press release is not an offer to sell, or a solicitation of an offer to buy, securities in the United States or elsewhere. Securities may not be sold in the United States absent registration with the U.S. Securities and Exchange Commission or an exemption from registration under the U.S. Securities Act of 1933, as amended. Conversus is not a registered investment company under the U.S. Investment Company Act of 1940, as amended (the "Investment Company Act”), and the resale of Conversus securities in the United States or to U.S. persons other than to qualified purchasers as defined in the Investment Company Act is prohibited. Conversus does not intend to register any offering in the United States or to conduct a public offering of its securities in the United States. Conversus is an authorised closed-ended investment scheme for Guernsey regulatory purposes. Conversus is registered with the Netherlands Authority for the Financial Markets as a collective investment scheme which may offer participation rights in the Netherlands pursuant to article 2:66 of the Financial Market Supervision Act (Wet op het financieel toezicht). Past performance is not necessarily indicative of future results.

The common units and related restricted depositary units of Conversus are subject to a number of ownership and transfer restrictions. Information concerning these ownership and transfer restrictions is included in the Investor Relations section of Conversus’ website at www.conversus.com.

Forward-Looking Statements

This press release contains certain forward-looking statements. In some cases, forward-looking statements can be identified by terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "should," "will," and "would," or the negative of those terms or other comparable terminology. Forward-looking statements speak only as of the date of these materials and include statements relating to expectations, beliefs, forecasts, projections (which may include statements regarding future economic performance, and the financial condition, results of operations, liquidity, cash flows, investments, business, net asset value and prospects of Conversus), future plans and strategies and anticipated results thereof, anticipated events or trends and similar matters that are not historical facts. By their nature, forward-looking statements involve risk and uncertainty, because they relate to events and depend on circumstances that will occur in the future, and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements including, but not limited to, the following: the length of time remaining until final liquidation of the Conversus entities and the timing and amount of any future distributions; the actual level of our operating costs relative to the estimates used to accrue our liquidation expenses; changes in potential conflicts of interest; changes in our financial condition, liquidity (including availability and cost of capital), cash flows and ability to meet our funding needs and satisfy our contractual obligations; general economic and political conditions and conditions in the equity, debt, credit, currency and, foreign exchange markets; the trading price, liquidity and volatility of our common units; regulatory and legislative developments; and the risks, uncertainties and other factors discussed elsewhere in these materials or in our public filings and documents on our website (www.conversus.com). Conversus does not undertake to update any of these forward-looking statements.