CONVERSUS CAP : Conversus Capital Releases Financial Results for the Six Months Ended 30 June 2013

Conversus Capital, L.P. (NYSE Euronext Amsterdam: CCAP) ("Conversus") released its financial results as of and for the six months ended 30 June 2013 and reported an estimated net asset value ("NAV") of $0.61 per unit as of 30 June 2013.

Net Asset Value Estimate

As of 30 June, Conversus had an estimated net asset value ("NAV") of $0.61 per unit. By comparison, Conversus' NAV as of 31 December 2012 was $1.63 per unit. This reduction is a consequence of a distribution of $1.00 per unit paid on 19 February 2013.

(in millions except per unit data)

		30 Jun 2013				31 Dec 2012
		(Unaudited)				(Audited)
Investment NAV		$	-			$	11.7
Cash and Cash Equivalents			48.1				1,165.3
Distributions Payable to Unit Holders			-				(1,042.7	)
Accrued Liquidation Expense Liability, net			(8.5	)			(28.3	)
Estimated NAV		$	39.6			$	106.0
Common Units Outstanding			65.1				65.1
Estimated NAV per Unit		$	0.61			$	1.63

Liquidation Process

On 30 April 2013, Conversus appointed Nicholas John Vermeulen and Evelyn Brady (the "Joint Liquidators") to manage the liquidation of Conversus GP, Limited and the remaining Conversus entities. Conversus will cease to exist upon the completion of a liquidation period which could last up to twelve months beyond the appointment date ("Liquidation Period").

In conjunction with the completion of the Liquidation Period Conversus will make a final distribution 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 to unit holders prior to the final distribution.

Conversus has adopted the liquidation basis of accounting and has established an accrued liquidation expense liability which includes all operating expenses through final liquidation. The accrued liquidation expense liability will be adjusted as necessary to reflect actual operating expenses and revisions to estimated future expenses.

Following the appointment of the Joint Liquidators, Conversus' license to operate as an authorized closed end scheme for Guernsey purposes was withdrawn and Conversus will cease to be registered as a collective investment scheme permitted to offer participation rights in the Netherlands pursuant to article 2:66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).

Unit Holder Distributions

During the six month period ending 30 June 2013, Conversus paid total unit holder distributions of $20.11 per unit, or $1,107.8 million in aggregate. Of the total, $19.11 per unit was paid to unit holders that did not make an election to receive limited partnership interests of HarbourVest Structured Solutions II L.P. ("HSS") in conjunction with the HSS transaction in lieu of such cash distribution. The remaining $1.00 per unit was paid to all unit holders.

No assurances can be given as to exactly when future unit holder distributions will be paid or the amount of the distributions. Upon completion of the liquidation period, Conversus will make a liquidating distribution in accordance with Guernsey law.

Regulatory Filing

Conversus has filed its financial results as of and for the six months ended 30 June 2013 with the Netherlands Authority for the Financial Markets. This document can be accessed in the Investor Relations section of the Conversus website under the heading "Financial Reports".

About Conversus Capital

Conversus is a limited partnership based in Guernsey 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. 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.

FINANCIAL TABLES FOR THE SIX MONTHS ENDED 30 JUNE 2013 FOLLOW

Combined Statements of Net Assets in Liquidation
As of 30 June 2013 and 31 December 2012
(US$ in thousands except for per unit amounts)
		30 Jun 2013				31 Dec 2012
		(Unaudited)				(Audited)
Assets
Investments, at fair value (cost $0 as of 30 Jun 2013; $11,421 as of 31 Dec 2012)		$	-			$	11,247
Investments, contracted to be sold, at fair value (cost $0 as of 30 Jun 2013; $2,380 as of 31 Dec 2012)			-				487
Cash and cash equivalents			48,108				1,165,303
Total Assets			48,108				1,177,037
Liabilities
Distribution payable to unit holders			-				1,042,736
Accrued liquidation expense liability, net			8,483				28,280
Total Liabilities			8,483				1,071,016
NET ASSETS		$	39,625			$	106,021
Net Assets
General Partners' capital		$	-			$	-
Limited Partners' capital (66,603 units issued and 65,086 units outstanding as of 30 Jun 2013; 66,603 units issued and 65,086 units outstanding as of 31 Dec 2012)			39,625				135,729
Treasury units (0 units as of 30 Jun 2013; 1,517 units as of 31 Dec 2012)			-				(29,708	)
NET ASSETS		$	39,625			$	106,021
NET ASSET VALUE PER UNIT OUTSTANDING		$	0.61			$	1.63

Combined Statement of Changes in Net Assets in Liquidation
For the six months ended 30 June 2013
(US$ in thousands except for per unit amount)
(Unaudited)
		Six months ended
		30 Jun 2013
Net Increase in Net Assets from Operations		$	459
Net Decrease in Net Assets from Liquidation Expenses			(1,769	)
Net Decrease in Net Assets from Unit Holder Distributions			(65,086	)
NET DECREASE IN NET ASSETS			(66,396	)
NET ASSETS AT BEGINNING OF PERIOD			106,021
NET ASSETS AT END OF PERIOD		$	39,625

Investor Contacts:
PricewaterhouseCoopers CI LLP
Nicholas John Vermeulen
Joint Liquidator
Partner
Tel [phone]
[e-mail]
or
PricewaterhouseCoopers CI LLP
Evelyn Brady
Joint Liquidator
Partner
Tel [phone]
[e-mail]