HSLE Harbourvest Sl

HARBOURVEST SENIOR LOANS EUROPE LIMITED (IN VOLUNTARY LIQUIDATION) (THE
"COMPANY")

First interim liquidation distribution announcement

At an extraordinary general meeting of the Company held on 27 November 2014,
shareholders passed resolutions to wind up the Company and appointed Ashley Paxton
and Linda Johnson of KPMG Channel Islands Limited as joint liquidators (the "Liquidators").

The Liquidators announce their intention to make a first interim liquidation
distribution (the "First Interim Distribution") of:

GBP 0.2563 per Sterling Share in issue

Note that the distribution represents approximately 97.2% of the NAV of the
Company (as at the date of liquidation). This is lower than anticipated distribution
(per the RNS announcement of 27 November 2014) due to an additional provision being
made in respect of a potential tax liability.

The First Interim Distribution will be effected pro rata to the holdings of Sterling
Shares on the register at the close of business on 27 November 2014(the "Record Date").

The distribution will be paid on 12 December 2014 (the "Payment Date"). Payment will
be made to non-certificated holders via CREST. Payment will be made to certificated
holders by way of Sterling cheques drawn upon a UK clearing bank posted to the
Shareholder's registered address as at the Record Date.

Enquiries:

The Liquidators
Ashley Paxton and Linda Johnson

Tel: 01481 741898
Fax: 01481 722373
Email: restructuring-ci@kpmg.com