Partners Grp E Regulatory News (PEY)

News Release

Guernsey, 20 May 2011

Princess NAV increases by 1.5% in April

Following the positive development of Princess' net asset value (NAV) in the previous month, the NAV continued to develop well and increased by 1.5% to EUR 8.76 per share in April. On the one hand, the further improving operating performance of Princess' portfolio companies again had a positive impact on NAV while initial public offerings (IPOs) of Princess' direct investments were additionally a particularly strong contributor. As previously announced, Princess' largest portfolio company General Nutrition Centers (GNC), a US-based retailer of nutritional supplements, completed an IPO on 1 April 2011, with the subsequent share price increase of 19.1% until the end of April substantially contributing to the positive NAV development. In addition, Arcos Dorados, the world's largest McDonald's franchisee with 1'755 locations in Latin America and the Caribbean, completed an IPO on the New York Stock Exchange in April. Its strong share price performance (+29.6% until the end of April) had a further positive impact on NAV. In total, revaluations of portfolio companies contributed +3.1% to the NAV. Due to the further appreciation of the euro against the US dollar during the past month, foreign exchange movements, however, had an adverse impact of 1.4% on the NAV.

In April, Princess again benefited from exits of its mature portfolio companies and received EUR 10.4 million in distributions from realized portfolio companies, compared to EUR 2.2 million in drawdowns for new investment opportunities. Amongst others, Princess received a EUR 3.1 million partial distribution from the IPO of GNC and a EUR 1.0 million distribution from the previously announced sale of Plexxikon, a US pharmaceutical company, which generated a return of more than 10x the original investment.

Dr. Stephan Schäli, Partner and Head Private Equity at Princess' investment advisor Partners Group, comments: "Thanks to Princess' high number of mature portfolio companies, the month of April again saw a strong level of exits. In addition to realizations in developed markets such as the IPO of GNC, Princess' substantial allocation to emerging markets also resulted in a number of highly successful exits, such as the IPO of Arcos Dorados. Moreover, Kruk, a Polish loss prevention and receivables management company and one of the 30 largest portfolio companies of Princess based on NAV, completed an IPO on the Warsaw Stock Exchange during the month of May, which generated an 8x return on the original investment. With further improvements in the exit environment, we are confident that the strong momentum for successful realizations of Princess' portfolio companies will continue over the coming months."

Further information is available in the monthly report which can be accessed via: http://www.princess-privateequity.net/en/investor_relations/reports.php?ml

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.