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Kubera Cross-Border (KUBC)

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Tuesday 26 June, 2007

Kubera Cross-Border

Investment in Adayana Inc.

Kubera Cross-Border Fund Limited
26 June 2007

                        Kubera Cross-Border Fund Limited

    KUBC invests US$20 million in Global Top 20 Training Outsourcing Service
                            Provider - Adayana Inc.

Kubera Cross-Border Fund Limited ('KUBC') (LSE: KUBC), an investment company
traded on the AIM market of the London Stock Exchange, is pleased to announce
that it has acquired a significant minority interest in Adayana Inc. ('Adayana')
for an equity investment of US$20 million (including the pro rata investment by
affiliates of Kubera Partners, LLC, the Investment Manager of KUBC).

Adayana is a learning services outsourcing company headquartered in Minneapolis,
Minnesota, US with offshore development operations in Hyderabad, India. The
company provides a range of technology-enabled learning services to a focused
set of vertical markets that include automotive services; defence; food,
agriculture and life sciences; and training outsourcing.

Its range of solutions and services includes strategic business alignment
consulting; custom e-learning content development; licensing of customizable
content libraries, learning technology integration and maintenance; and managed
learning BPO services. Adayana uses technology as an underlying enabler to
support the training needs of its clients. The company featured among the Top 20
Companies in the Training Outsourcing Company Industry for 2006 according to, a leading training industry research firm.

Adayana has grown over the years through strong organic growth as well as
acquisitions in India and the US. The company effectively uses a cross-border
business model, with sales, support, and other customer-facing functions in the
US and other markets supported by a strong development organization in India.
Adayana's India-based operations in Hyderabad are ISO 9001:2000 certified, and
serve the company's global customers including customers in the company's
rapidly expanding South Asian market.

Commenting on the new partnership, Rajiv Tandon, CEO of Adayana Inc., said, 'We
were looking for a partner that could help us grow direct sales in the US,
Europe and emerging markets, identify and close acquisitions, assist in building
a world-class Indian delivery operation and also help with our rapidly growing
training outsourcing business serving the South Asian market. Kubera Partners,
LLC's ability to add value in a cross-border sense, uniquely qualifies them to
help with businesses such as ours.'

Kumar Mahadeva, Managing Partner at Kubera Partners, LLC said, 'We conducted an
evaluation of the training outsourcing market and our conclusion was that
Adayana is well positioned to grow rapidly as clients increasingly outsource
training to address skill shortages and improve performance. Adayana is well
positioned because of its leadership in e-learning and other technology-based
learning services, vertical market knowledge, dual-shore delivery capability and
world class management.  We are delighted to be the company's investment
partner, and look forward to supporting the business in both its organic and
inorganic growth.'

Kubera Partners, LLC as the investment manager of KUBC, invests in cross-border
companies that are Western headquartered and seek to leverage India and Asia
based resources for availability of talent or access to new markets; and
companies headquartered in India and Asia that seek to expand in Western markets
through acquisition or sales force development. Kubera Partners, LLC is
differentiated by the track record of its principals and their complementary

On behalf of KUBC, Kubera Partners, LLC aims to invest between US$20 million and
US$40 million per investment but can make significantly larger investments where
appropriate. Further details on the investment manager can be found at

For more information contact:

Kubera Partners, LLC (Investment manager of Kubera Cross-Border Fund Limited)
Kumar Mahadeva, Managing Partner
Tel no: +1 (212) 295 2400

Adayana Inc.
Rajiv Tandon, CEO
Tel no: +1 (952) 830 0610

Grant Thornton Corporate Finance (Nominated Adviser)
Philip Secrett, Partner
Tel no: +44 (0) 20 7383 5100

LCF Edmond de Rothschild Securities Limited (Broker)
Hiroshi Funaki
Tel no: +44 (0) 20 7845 5968

KeyBanc Capital Markets (Exclusive Adviser to Adayana)
Hector Chao
Tel no: +1 (415) 733 2474

                      This information is provided by RNS
            The company news service from the London Stock Exchange               QBBBBF                                                                                                                                                                                                                                                         

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