DW Catalyst Fund Limited (the "Company")                    

      (a closed-ended collective investment scheme established as a company with   
      limited liability under the laws of Guernsey with registered number 52520)   

                        Transaction in Own Shares - CORRECTION                     

                                    18 January 2017                                

    Further to the Transaction in Own Shares announcement released on 9 January
    2017, please be advised that the Company holds 1,044,715 of its ordinary shares
    in treasury and not 1,049,215 as previously advised. All other details remain
    unchanged.

    Enquiries:

    Company website:      www.dwcatalystltd.com  

    Peregrine Communications
    Alan O'Sullivan/ Darius Athill
    Tel:         +44 (0) 203 178 6872 / +44 (0) 203 040 0874

    Northern Trust International Fund Administration Services (Guernsey) Limited
    Rebecca Booth
    Tel:         +44 (0) 1481 745189
    RB235@ntrs.com

    DW Partners
    Doug Frisina
    Tel:         +1 212 751 5878
    Doug.Frisina@dwpartners.com