Mr. David Reese reports

CALLIDUS CAPITAL CORPORATION REPORTS UPDATE REGARDING BUSINESS GROWTH

Callidus Capital Corp. has provided an update on the current status of its business.

The company is pleased to report that as at Oct. 29, 2014, its gross loans receivable were $671-million, with a total committed amount of $856-million. This represents an increase from the company's position on Aug. 13, 2014, when it reported gross loans receivable of $605-million and a total committed amount of $755-million. As stated during the company's earnings teleconference call on Aug. 15, 2014, this disclosure is consistent with the company's intention to inform the market should the loan portfolio change by more than $65-million. This threshold may be adjusted as the size of the loan portfolio changes.

Additionally, the company's pipeline of potential new loans is currently approximately $525-million, for which the company has signed back term sheets that it is pursuing of approximately $160-million, recognizing that not all these potential loans will close.

The company continues to see exciting growth and opportunities in each of its targeted strategic growth areas. As the business continues to grow, the company has added to the underwriting, finance and field examination groups. It will continue to provide updates as it makes progress on these and other initiatives.