Partners Grp E Regulatory News (PEY)

News Release

Guernsey, 13 December 2010

Princess implements share buyback program

Princess Private Equity Holding Limited (the Company) announces that its Board of Directors (the Board) has today passed a resolution to implement a share buyback program.

The Company intends to purchase its own shares via the London Stock Exchange and Frankfurt Stock Exchange, the two stock exchanges where the Company's shares are quoted. The purchases will be on an ongoing basis and subject to the Company's liquidity position and to the renewal of the shareholder authorities. The Board intends that any shares purchased by the Company shall be cancelled.

The Company's current and prospective liquidity position has been improved by high distribution levels from exited portfolio companies, by a recent partial reset of the USD put option with a new strike of USD 1.36 which generated net proceeds of around EUR 12 million, and by selective secondary portfolio sales which are currently in advanced stages. The Board believe that the Company's current and prospective liquidity position provides sufficient flexibility to finance share buybacks while continuing to make new investments.

Brian Human, Chairman, comments: "Introducing the share buyback program further underlines the strong commitment of the Board to create value for the Company's shareholders. The share buyback program marks the next step in the previously announced strategic repositioning of the Company, which also comprises plans to resume dividend payments in 2011, a gradual redirection of the investment focus of the Company towards direct investments and a secondary sale of selected fund commitments of which the first tranche is expected to close before year-end."

Further details on the share buyback program are set out below.

Ends.

About Princess

Princess is an investment holding company founded in 1999 and domiciled in Guernsey. It invests, inter alia, in private equity and private debt investments. Princess is advised in its investment activities by Partners Group AG, a global private markets investment management firm with over EUR 20 billion in investment programs under management in private equity, private debt, private real estate and private infrastructure. Princess aims to provide shareholders with long-term capital growth and an attractive dividend yield. Princess is traded on the Frankfurt Stock Exchange (ticker symbol: PEY1) and on the London Stock Exchange (ticker symbol: PEY). Further information: www.princess-privateequity.net

Notes regarding the share buyback program

The Board resolution to launch a share buyback program is based on the authorization provided by the Annual Shareholders Meeting on 16 June 2010, which authorizes the Company to purchase up to 14.99% of its ordinary shares in issue at the date of the passing of the resolution (excluding ordinary shares held in treasury), that is 10'507'990 shares. The authorization expires on the date of the Annual General Meeting in 2011 and provides that the maximum price (exclusive of expenses) which may be paid for each share purchased by the Company shall be the higher of (i) an amount equal to 105% of the average middle market quotations for the Company's shares as derived from the London Stock Exchange Daily Official List for the five business days immediately preceding the date of purchase, and (ii) an amount equal to the higher of the last independent trade and the highest current independent bid on the London Stock Exchange.

The shares purchased by the Company shall be cancelled unless the Board of Directors determines to hold shares in treasury.

In accordance with the Listing Rules, announcements will be made, as and when shares are repurchased pursuant to the buyback program, via a Regulatory Information Service giving details of the date of purchase, the purchase price and the number of shares repurchased on that date, as well as the number of such shares purchased for cancellation and the number purchased to be held in treasury. Such announcements will also be posted on the Company's website at http://www.princess-privateequity.net/en/investor_relations/obligatory_disclosures.php?ml.

Contacts

Princess Private Equity Holding Limited:

princess@princess-privateequity.net

www.princess-privateequity.net

Registered Number: 35241

Media enquiries:

Partners Group AG

Dr. Anna Hollmann

Communications

Tel.: +41 41 768 83 72

anna.hollmann@partnersgroup.com

www.partnersgroup.com

This document does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for any securities and neither is it intended to be an investment advertisement or sales instrument of Princess Private Equity Holding Limited. The distribution of this document may be restricted by law in certain jurisdictions. Persons into whose possession this document comes must inform themselves about, and observe any such restrictions on the distribution of this document. In particular, this document and the information contained therein is not for distribution or publication, neither directly nor indirectly, in or into the United States of America, Canada, Australia or Japan.

This document may have been prepared using financial information contained in the books and records of the product described herein as of the reporting date. This information is believed to be accurate but has not been audited by any third party. This document may describe past performance, which may not be indicative of future results. No liability is accepted for any actions taken on the basis of the information provided in this document. Neither the contents of Princess' website nor the contents of any website accessible from hyperlinks on Princess' website (or any other website) is incorporated into, or forms part of, this announcement.