Further re Placing

THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR
RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN
PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, THE
REPUBLIC OF IRELAND, THE REPUBLIC OF SOUTH AFRICA OR ANY JURISDICTION IN WHICH
THE SAME WOULD BE UNLAWFUL

CRYSTAL AMBER FUND LIMITED

26 July 2013

Placing Update

The Board of Crystal Amber Fund Limited is pleased to announce the successful
completion of the Placing announced earlier today, with certain shareholders
and new investors having been procured to subscribe, based on the Company's
latest published NAV, for Placing Shares with gross proceeds of approximately £
26.5 million. The Placing is conditional, inter alia, on shareholder approval
and Admission.

A circular will be sent to shareholders shortly and will include a notice
convening an Extraordinary General Meeting to be held on 15 August 2013 to seek
Shareholder approval to (i) implement the Placing, (ii) amend the Articles in
respect of the timing and frequency of meetings convened to vote upon the
continuation of the Company, and (iii) amend the Company's investment strategy
and investment restrictions.

Enquiries

Crystal Amber Fund Limited
William Collins
Tel: [phone]

Crystal Amber Advisers (UK) LLP - Investment Adviser
Richard Bernstein
Tel: [phone]

Sanlam Securities UK Limited - Nominated Adviser
David Worlidge/Simon Clements
Tel: [phone]

Numis Securities Limited - Broker
Nathan Brown/Hugh Jonathan
Tel: [phone]

Broker Profile Limited - Stockbroker Relations Consultants
Simon Courtenay
Tel: [phone]

Expected Timetable

Each of the times and dates is subject to change. References to a time of day
are to London time. Any changes to the timetable will be notified by
publication of a notice through a RIS.

2013

Circular published 26 July

EGM 10.00 a.m. on 15 August

Settlement date and dealings commence in Placing Shares 21 August

Important Notice

Capitalised terms used but not defined in this announcement have the same
meanings as set out in the placing announcement of the Company released at
12.22 today.

Numis Securities Limited, which is authorised and regulated in the United
Kingdom by the Financial Conduct Authority, is acting exclusively as broker to
Crystal Amber Fund Limited and for no one else in connection with the Placing
and will not be responsible to anyone other than Crystal Amber Fund Limited for
providing the protections afforded to clients of Numis Securities Limited or
for providing advice in relation to the Placing or any matter referred to in
this Announcement.

Sanlam Securities UK Limited, which is authorised and regulated in the United
Kingdom by the Financial Conduct Authority, is acting as nominated adviser to
Crystal Amber Fund Limited and is acting for no-one else in connection with the
Placing and will not be responsible to anyone other than Crystal Amber Fund
Limited for providing the protections afforded to clients of Sanlam Securities
UK Limited nor for providing advice in relation to the Placing or any matter
referred to in this Announcement.