JZ CAPITAL PARTNERS LIMITED (the "Company")                  
       (a closed-end collective investment scheme incorporated as a non-cellular   
       company with limited liability under the laws of Guernsey with registered   
                                     number 48761)                                 

                      Notice of Extraordinary General Meeting and                  
            Proposed Amendments to the Company's Articles of Incorporation         

    24 May 2016

    Notice of Extraordinary General Meeting

    Notice is hereby given that the Extraordinary General Meeting ("EGM") of the
    Company will be held at the offices of Northern Trust International Fund
    Administration Services (Guernsey) Limited, Trafalgar Court, Les Banques, St
    Peter Port, Guernsey GY1 3QL, on 17 June 2016 at 1:25 BST (or as soon
    thereafter as the Annual General Meeting of the Company convened for the same
    day has been concluded or adjourned).

    The purpose of the EGM is to consider and, if thought fit, approve certain
    proposed amendments to the Company's Articles of Incorporation.

    The Board is proposing to adopt new Articles of Incorporation (the "New
    Articles") in order to update the Company's existing Articles of Incorporation
    (the "Existing Articles"). The New Articles primarily take account of changes
    to remove any reference in the Existing Articles to the Company's 2016 Zero
    Dividend Preference Shares (the "2016 ZDP Shares") (which the Company is
    proposing to redeem on the redemption date of the 2016 ZDP Shares, being 22
    June 2016), changes to law and practice in Guernsey since the Existing Articles
    were last updated substantively in this regard and other changes of a more
    minor, technical or clarifying nature. Details of the proposed amendments are
    included in the Notice convening the EGM.

    The Notice convening the EGM is being distributed to members of the Company and
    will shortly be uploaded to the Company's website at www.jzcp.com. Copies of
    the Notice convening the EGM the Company is posting to shareholders are
    available for viewing, during normal business hours, at the registered office
    of the Company at Trafalgar Court, Les Banques, St Peter Port, Guernsey GY1 3QL
    and will shortly be available for viewing at www.morningstar.co.uk/uk/nsm.

    For further information:

    William Simmonds                        +44 (0)20 7742 4000                    
    J.P. Morgan Cazenove                                                           
                                                                                   
    Ed Berry / Kit Dunford                  +44 (0) 20 3727 1046 / 1143            
    FTI Consulting                                                                 
                                                                                   
    David Zalaznick                         +1 (212) 485 9410                      
    Jordan/Zalaznick Advisers, Inc.                                                
                                                                                   
    Paul Le Ray                             +44 (0) 1481 745815                    
    Northern Trust International Fund                                              
    Administration Services (Guernsey)                                             
    Limited                                                                        

    About JZCP

    JZCP is a London listed fund which invests in high quality US and European
    microcap companies and US real estate. Its objective is to achieve a superior
    overall return comprised of a current yield and significant capital
    appreciation. JZCP receives investment advice from Jordan/Zalaznick Advisers,
    Inc. ("JZAI") which is led by David Zalaznick and Jay Jordan. They have worked
    together for 30 years and are supported by teams of investment professionals in
    New York, Chicago, London and Madrid. JZAI's experts work with the existing
    management of microcap companies to help build better businesses, create value
    and deliver strong returns for investors. JZCP also invests in mezzanine loans,
    first and second lien investments and other publicly traded securities.

    For more information please visit www.jzcp.com.