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

Second 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").

Following their appointment, on 12 December 2014 the Liquidators paid a first
interim liquidation distribution (the "First Interim Distribution") amounting:

GBP 0.2563 per Sterling Share in issue

The First Interim Distribution represented approximately 97.2% of the NAV of
the Company (as at the date of liquidation).

Second Interim Distribution

Following an analysis of certain tax liabilities payable by the Company's
subsidiaries in Luxembourg, the Liquidators now anticipate that a second
interim distribution (the "Second Interim Distribution) will be made to holders
of Sterling Shares prior to 30 June 2015. Following the payment of the Second
Interim Distribution, cumulative liquidation distribution payments made by the
Liquidators will represent approximately 98.99 % of the NAV of the Company as
at 27 November 2014.

A further announcement will be made to shareholders prior to the second interim
liquidation distribution once the final rate and date of the distribution have
been determined.

A further final liquidation distribution (the "Final Distribution") will be
made once tax clearance has been obtained from the Luxembourg Tax Authorities.
The Final Distribution is expected to be made in the fourth quarter of 2015.

Enquiries:

Ashley Paxton and Linda Johnson
The Liquidators

KPMG Channel Islands Limited
Glategny Court
Glategny Esplanade
St. Peter Port
Guernsey
GY1 1WR

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