Catalyst Will Not Tender to the Offer and Will Maintain Ownership Position

Believes Callidus Business is Well-Positioned for Growth but Supports Opportunity for Minority Shareholders to Choose Braslyn Offer

The Catalyst Capital Group Inc. (“Catalyst”) today commented on the disclosure by Braslyn Ltd. (“Braslyn” or the “Offeror”) that it has offered to purchase all publicly held common shares of Callidus Capital Corporation ("Callidus") (TSX:CBL) for C$2.00 per share (the “Offer”).

Catalyst is not making the Offer, does not intend to tender shares into the Offer and will maintain its existing 72% share ownership of Callidus. Catalyst and the Offeror have had discussions regarding the terms of mutually acceptable Catalyst rollover and support agreements to be entered into as a condition of the Offer. Accordingly, if the Offer proceeds and the requisite majority of public Callidus shareholders support the Offer, Catalyst intends to cooperate as necessary to permit the public shareholders to obtain the benefit of the Offer and to permit the privatization of Callidus. Newton Glassman and James Riley of Catalyst, both Directors of Callidus, have been recused from the Callidus board deliberations throughout the Callidus privatization process and will remain so.

Rocco DiPucchio, a Managing Director and Partner of Catalyst, said, “Catalyst believes in Callidus’ prospects, that it has substantial unrecognized value and that it is a tremendous vehicle for further value creation over the long-term. Callidus has reached a point where the portfolio is growing, additional leadership is in place and legacy assets are beginning to be monetized at favourable values. However, Catalyst recognizes that the Offer by Braslyn represents an opportunity for minority shareholders to receive a premium to the recent market price of the shares and for Callidus to continue its turnaround as a private company. Callidus’ public shareholders have a choice on this Offer and Catalyst intends to respect the outcome of their decision.

About The Catalyst Capital Group Inc.

The Catalyst Capital Group Inc., a private equity investment firm with more than $6 billion in assets under management founded in 2002, is a leader in operationally focused turnaround investing. The firm's mandate is to manufacture risk adjusted returns, in keeping with its philosophy of "we buy what we can build." Catalyst's Guiding Principles of investment excellence through operational involvement, superior analytics, attention to detail, intellectual curiosity, team and reputation are key to the firm's success. The Catalyst team collectively possesses more than 110 years of extensive experience in restructuring, credit markets and merchant and investment banking in Canada, the United States, Latin America and Europe. For more information, please visit www.catcapital.com.

MediaGagnier CommunicationsDan Gagnier, +1-646-569-5897dg@gagnierfc.com

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