Conversus Capital Releases Financial Results for the Year Ended 31 December 2012

Conversus Capital, L.P. (NYSE Euronext Amsterdam: CCAP) ("Conversus”) released its financial results for the year ended 31 December 2012 and reported an estimated net asset value ("NAV”) of $1.63 per unit.

Transaction with HarbourVest Structured Solutions II L.P.

On 31 December 2012, Conversus completed the sale of the Conversus entities that held Conversus’ portfolio of private equity fund interests and direct co-investments to HarbourVest Structured Solutions II L.P. ("HSS”) for a final adjusted purchase price of $1,243.8 million, or $19.11 per unit.

Net Asset Value Estimate

As of 31 December, Conversus had an estimated net asset value ("NAV”) of $1.63 per unit. By comparison, Conversus’ NAV as of 31 December 2011 was $26.88 per unit.

Liquidation Process

On or about 30 April 2013, Conversus expects to appoint a liquidator to manage the wind down of Conversus’ remaining entities. Conversus will cease to exist upon the completion of a liquidation period which could last up to eighteen months beyond the appointment date.

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a liquidator, Conversus expects its license to operate as an authorized closed end scheme for Guernsey purposes will be withdrawn and that it will cease to be registered as a collective investment scheme permitted to offer participation rights in the Netherlands pursuant to article 2:66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

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.

Unit Holder Distributions

During the year ended 31 December, Conversus paid cash distributions to unit holders totaling $133.3 million or $2.05 per unit. In addition, on 31 December, in conjunction with the HSS transaction, Conversus declared a cash distribution of $1,042.7 million, or $19.11 per unit, payable to unit holders that did not make an election to receive limited partnership interests of HSS. The distribution was paid on 14 January 2013. On 31 December, Conversus made an in-kind distribution of limited partnership interests of HSS totaling $201.1 million, or $19.11 per unit, to unit holders that made valid elections to receive limited partnership interests of HSS.

On 19 February 2013, Conversus paid a cash distribution to unit holders totaling $65.1 million, or $1.00 per unit, to unit holders of record as of 13 February 2013.

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 a liquidation period, Conversus will make a liquidating distribution in accordance with Guernsey law.

Treasury Units

On 8 March 2013, Conversus cancelled its remaining 1.5 million units held in treasury. Conversus has 65.1 million units outstanding.

Annual Financial Report

Conversus has filed its Annual Financial Report for the year ended 31 December 2012 with the Netherlands Authority for the Financial Markets. The document can be accessed in the Investor Relations section of Conversus’ website under the heading "Financial Reports.”

Valuation Policy

Conversus carries investments on its books at fair value in accordance with accounting principles generally accepted in the United States. As of 31 December 2012, Conversus held one private equity fund investment at its estimated realizable value. The fund investment was sold on 2 January 2013. Directly held public equity securities were marked to market as of the last quoted price on 31 December 2012.

About Conversus Capital

Conversus is a publicly traded limited partnership based in Guernsey. On completion of its global initial public offering in July 2007, Conversus purchased a portfolio of high quality, seasoned private equity fund interests. In December 2012, Conversus completed the sale of its private equity portfolio. Currently in an orderly wind down, Conversus is focused on returning its remaining capital to unit holders in anticipation of the appointment of a liquidator.

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. Conversus is an authorised closed-ended investment scheme for Guernsey regulatory purposes. Conversus is registered with the Netherlands Authority for the Financial Markets as a collective investment scheme which may offer participation rights in the Netherlands pursuant to article 2:66 of the Financial Market Supervision Act (Wet op het financieel toezicht). 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 actual level of our operating costs relative to the estimates used to accrue our liquidation expenses; risks associated with our investments generally, and the actual realized value of investments; the size and timing of transactions involving our investments; 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; competitive conditions; 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.

EXCERPTS FROM CONVERSUS’ AUDITED COMBINED FINANCIAL STATEMENTS FOLLOW