CD PRIVATE EQUITY FUND I — Capital/Financing Update 2012

Oct 7, 2012

8 October 2012

US Select Private Opportunities Fund (Fund) (ASX: USF)

US$10 million commitment to KarpReilly Capital Partners II, L.P.

Dixon Advisory & Superannuation Services Limited ( Dixon Advisory ), in its capacity as Responsible Entity of the Fund, is pleased to announce the US Select Private Opportunities Fund, LP (LP) has made a commitment of US$10 million to KarpReilly Capital Partners II, L.P. This is the third investment secured by the LP, which is now 43% committed.

KarpReilly, LLC (KarpReilly) is a private investment firm founded by Allan Karp and Chris Reilly ( Principals ), whose aim is to invest in premier small to mid-size growth companies, primarily in the consumer sector. KarpReilly has raised approximately US$210 million for its second private equity fund, KarpReilly Capital Partners II, L.P. Importantly, the Principals have committed a significant amount of personal capital to the fund, which we believe will create a strong alignment of interests between investors and management.

The consumer sector has been the firm’s focus for 20 years, and the Principals have invested in, sat on the boards of, and nurtured some of the leading success stories in the industry, including:

Retail:	Dollar Tree Stores, Bob’s Discount Furniture
Restaurants:	Café Rio, Habit Burger Grill
Apparel:	Tommy Bahama, Trina Turk
Consumer Products:	Targus Group, Norcraft Companies

The Principals’ experience investing in over 40 consumer growth companies enables KarpReilly to be a value-added partner to its portfolio companies, providing not just capital and financial expertise, but strategic, board-level advice and stewardship in helping them implement a longterm plan. Most of KarpReilly’s investments are private company recapitalisations, where the entrepreneur/founders are seeking a value-added financial partner.

The combination of the Principal’s experience in the industry, together with a manageable fund size, should position KarpReilly well to compete in the small-to-mid-market private investment sector.

For more information, contact:

Alex MacLachlan 1300 454 801

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