GSDO Goldman D GBP

                  GOLDMAN SACHS DYNAMIC OPPORTUNITIES LIMITED

                  (IN VOLUNTARY LIQUIDATION) (THE "COMPANY")

Main Portfolio

2011 Redemption Portfolio

2010 Redemption Portfolio

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 Joint Liquidators.

Main Portfolio

On 15 July 2013, the Joint Liquidators made a third redemption payment to Main
Portfolio Shareholders. Following this payment, cumulative liquidation
distribution payments represent approximately 96 percent of the NAV of the Main
Portfolio GBP and US$ Shares as at 31 March 2012.

The following table summarises the distributions made to date from this
portfolio:

GBP Shares:     Date Settled       Amount paid  Cumulative proportion of 31
                                                    March 2012 NAV returned
                               (USD per share)

                   08-Jun-12            1.6708                          50%

                   10-Dec-12            1.6699                          86%

                   15-Jul-13            1.5768                          96%

USD Shares:     Date Settled       Amount paid  Cumulative proportion of 31
                                                    March 2012 NAV returned
                               (USD per share)

                   08-Jun-12            2.0243                          50%

                   10-Dec-12            2.0232                          86%

                   15-Jul-13            1.8994                          96%

2011 Redemption Portfolio

On 15 July 2013, the Joint Liquidators made a second redemption payment to 2011
Redemption Portfolio Shareholders. Following this payment, cumulative
liquidation distribution payments represent approximately 95 percent of the NAV
of the 2011 Redemption Portfolio EUR and US$ Shares as at 30 September 2011.

The following table summarises the distributions made to date from this
portfolio:

EUR Shares:     Date Settled       Amount paid  Cumulative proportion of 30
                                                September 2011 NAV returned
                                (EURper share)

                   18-Nov-11            1.4008                          91%

                   15-Jul-13            1.1233                          95%

USD Shares:     Date Settled       Amount paid  Cumulative proportion of 30
                                                September 2011 NAV returned
                               (USD per share)

                   18-Nov-11            1.9734                          91%

                   15-Jul-13            1.4923                          95%

2010 Redemption Portfolio

On 15 July 2013, the Joint Liquidators made a third redemption payment to 2010
Redemption Portfolio Shareholders. Following this payment, cumulative
liquidation distribution payments represent approximately 97 percent of the NAV
of the 2010 Redemption Portfolio EUR and US$ Shares as at 30 September 2010.

The following table summarises the distributions made to date from this
portfolio:

EUR Shares:     Date Settled       Amount paid  Cumulative proportion of 30
                                                September 2010 NAV returned
                               (EUR per share)

                   18-Nov-10            1.4386                          82%

                   18-Nov-11            1.5120                          93%

                   15-Jul-13            1.2759                          97%

USD Shares:     Date Settled       Amount paid  Cumulative proportion of 30
                                                September 2010 NAV returned
                               (USD per share)

                   18-Nov-10            2.0245                          82%

                   18-Nov-11            2.1312                          93%

                   15-Jul-13            1.6952                          97%

Main Portfolio

2011 Redemption Portfolio

2010 Redemption Portfolio

(together, the "Portfolios")

The remaining assets of the Portfolios are held predominantly in cash. The
Joint Liquidators expect to realise the remaining non-cash assets in the second
quarter of 2014. If the Joint Liquidators are successful in these realisations,
they intend to announce final redemption payments to shareholders in the
Portfolios shortly thereafter.

Further, the Joint Liquidators announce that an Annual General Meeting of the
Company will be held on 27 March 2014. Documentation related to the meeting
will be circulated in due course.

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