Paulson Adv Plus Ltd - Change of Directors

The Board of Directors (the "Board") of Paulson Advantage Plus Ltd wishes to announce that David Cooper and Graham Cook have resigned from the Board with effect from 2 June 2010.

The Board also wishes to announce that on 2 June 2010 Roel Campos and Harvey Pitt were appointed to the Board, as independent non-executive directors.

Mr. Campos served for five years, between August 2002 and September 2007 as a Commissioner of the U.S. Securities ∓ Exchange Commission, and in January 2010 was named to President Barack Obama's Presidential Intelligence Advisory Board. As the Vice Chair of the Technical Committee of the International Organization of Securities Commissioners between June 2005 and September 2007, he developed cooperative and collaborative relationships with international securities regulators in Europe (Chicago Options: ^REURUSD - news) , Asia, Australia and Latin America. Mr. Campos also facilitated the development of international auditing and accounting standards through his work as Chair of the Monitoring Group, which oversees the setting of International Standards of Audit. Roel Campos is a partner in the Washington, D.C. office of Locke Lord LLP since April 2011, and is Locke Lord's National Chair of Securities Regulation of Enforcement. From September 2007 to April 2011, he was a senior partner in the law firm of Cooley LLP. Mr. Campos holds a BS degree from the United States Air Force Academy, an MBA from UCLA, and a JD degree from Harvard Law School.

A former Chairman of the U.S. Securities ∓ Exchange Commission between August 2001 and February 2003, Mr. Pitt brings to the Paulson Funds over 40 years of experience in both the public and private sectors. Prior to becoming the SEC Chairman, Mr. Pitt was a senior corporate partner in the international law firm, Fried, Frank, Harris (Xetra: 851270 - news) , Shriver ∓ Jacobson between September 1978 and July 2001 and also served as the SEC's General Counsel. Mr. Pitt is currently, since April 2003, the Chief Executive Officer of the global business consulting firm Kalorama Partners, LLC. Mr. Pitt holds a BA degree from the City University of New York (Frankfurt: A0DKRK - news) (Brooklyn College) and a JD degree from St. John's University School of Law."

A memorandum detailing the names of all the companies and partnerships of which Roel Campos and Harvey Pitt have been a director or partner at any time in the previous five years, together with an indication of whether or not he is still a director or partner, is available for inspection at the offices of NCB Stockbrokers Limited, 3 George's Dock, International Financial Services Centre, Dublin 1, upon request.

Save (Milan: SAVE.MI - news) as disclosed herein, no further information is required to be disclosed in relation to Roel Campos and Harvey Pitt under the Irish Stock Exchange's listing requirements for investment funds.

Mr. Campos and Mr. Pitt serve as non-executive independent directors to the Company.

The delay in notifying these changes to the Irish Stock Exchange is due to an oversight of an administrative nature.

This announcement has been issued through the Companies Announcement Service of

The Irish Stock Exchange