GSDO Goldman D GBP

               GOLDMAN SACHS DYNAMIC OPPORTUNITIES LIMITED
                 (IN VOLUNTARY LIQUIDATION) (THE "COMPANY")

Main Portfolio Redemption Announcement

At a general meeting of the Company held on 31 December 2012, shareholders
passed the proposals to wind-up the Company and Ashley Paxton and Linda Johnson
of KPMG Channel Islands Limited were appointed Liquidators.

Further to the two distributions announced by the Company on 30 May 2012 and 28
November 2012, the Liquidators announce their intention of making a third
distribution (the "Third Distribution") of approximately US$21 million from the
Main Portfolio, by way of a compulsory redemption of shares at a Redemption
Price of US$1.5678 per GBP Share and US$ 1.8994 per US$ Share (the Company's
NAV per GBP Share and US$ Share respectively as at 31 May 2013 with the NAV per
GBP Share converted into US$ using the GBP:US$ spot exchange rate at close of
business on that day).

The Third Distribution will be effected (i) between the GBP Shares and US$
Shares pro rata to their respective aggregate NAVs as at 31 May 2013 and (ii)
within each class pro rata to holdings of GBP Shares and US$ Shares on the
register at the close of business on 5 July 2013 (the "Redemption Record
Date").

Approximately 76 per cent. of the Company's issued GBP Shares and 76 per cent.
of the Company's issued US$ Shares (the "Relevant Percentage") will be redeemed
on that date.

Amounts payable to holders of GBP Shares will be converted into sterling using
the GBP:US$ spot exchange on a date selected by the Liquidators for the purpose
(expected to be close of business London time on 10 July 2013).

The Third Distribution is equivalent to approximately 10 per cent of the NAV of
the GBP and US$ Shares as at 31 March 2012. Following this payment, cumulative
payments will represent approximately 96 per cent of the NAV of the GBP and US$
Shares as at 31 March 2012.

Payment Mechanics

All shares are now held in certificated form (that is, not in CREST).
Redemptions will take effect automatically on the Redemption Record Date. As
the Shares will be compulsorily redeemed, certificated Shareholders do not need
to return their Share certificates to the Company in order to claim their
redemption monies. Shareholders' existing Share certificates will be cancelled
and new Share certificates will be issued to each such Shareholder for the
balance of their shareholding after the Redemption Record Date. Cheques will
automatically be issued to certificated Shareholders upon the cancellation of
any of their Shares.

Payments will be made by way of cheque (drawn on a branch of a UK clearing
bank) by post on 15 July 2013 to the registered address of the Redeeming
Shareholder (or, in the case of joint holders, the holder whose name appears
first in the register of members) at the sole risk of that Redeeming
Shareholder.

Expected Timetable for Third Distribution:

Redemption Record Date: 5 July 2013

Conversion of USD to GBP for payments to GBP Shareholders: 10 July 2013

Settlement of Third Distribution: 15 July 2013

Enquiries:

The Liquidators
Ashley Paxton and Linda Johnson
20 New Street
St Peter Port
Guernsey
GY1 4AN

Tel: 01481 721000
Fax: 01481 722373
restructuring@kpmg.guernsey.gg