CD PRIVATE EQUITY FUND I — Capital/Financing Update 2012

Nov 28, 2012

29 November 2012

US Select Private Opportunities Fund (Fund)

(ASX: USF)

Fund Update

Capital Call for US Select Private Opportunities Fund, LP

The Fund has received a third capital call for the US Select Private Opportunities Fund, LP ( LP ). The capital call is for a total consideration of US$5.0 million which will fund upcoming investments. The Fund will commit an 85.5% share (approximately US$4.3 million), while Cordish Private Ventures and US Select Private Opportunities Fund GP, LLC, will contribute the remaining amount based on their proportional shares.

Inclusive of this capital call, US$12.5 million has now been called for the LP in total, or approximately 18.0% of committed capital. The Fund’s proportionate share, as above, is approximately US$10.7 million.

To date, the LP has received drawdown requests from its underlying investments totalling approximately US$6.5 million. This represents approximately 9.3% of total funds.

For more information, contact:

Alex MacLachlan 1300 454 801

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The US Select Private Opportunities Fund is the first Australian-listed fund with a primary strategy of investing in US small-to-mid-market investment funds, adopting a fund-of-funds investment strategy.