Partners Grp E Regulatory News (PEY)

News Release

Guernsey, 25 August 2011

Princess' net asset value increased by 1.2% in July

The net asset value (NAV) of Princess Private Equity Holding Limited (Princess) increased by 1.2% in July to end the month at EUR 8.96 per share. This helped to boost Princess' NAV growth for the year-to-date to a solid 5.7%. Once again portfolio company developments proved the main performance driver, as value creation initiatives by Princess' portfolio companies continued to bear fruit.

The single largest contributor to NAV growth over the month was General Nutrition Centers (GNC), the US-based nutritional supplements retailer. Though partly realized through an IPO in April 2011, GNC remains Princess' largest portfolio company holding. GNC was revalued higher in July after its share price gained on its solid second quarter earnings results and increased sales forecasts for 2011. Contrary to recent trends, foreign exchange movements also contributed positively (0.5%) to Princess' NAV, as the US dollar appreciated against the euro.

In July Princess' net cash position remained stable, with investment and distribution activity somewhat subdued in comparison to previous months. The Company received capital calls of EUR 5.9 million and distributions of EUR 4.7 million in July, though the latter did not yet include distribution proceeds from the Jack Wolfskin exit, which was also announced during the month.

Overall, Princess' balance sheet remains in a healthy position, with net liquidity of 5.2% of NAV and an overcommitment ratio (including credit line) of 9.89%. As a result of the future focus on direct investments, unfunded commitments should continue to decrease considerably over the medium-term and future cashflow visibility is likely to improve further. This strong balance sheet position in combination with the dividend target of 5% to 8% of NAV should continue to support the Company's share price, as equity markets have entered a phase of heightened volatility.

Further information is available in the monthly report which can be accessed via:

http://www.princess-privateequity.net/financialreports

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

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.