Princess Priv E Regulatory News (PEY)

News Release

Guernsey, 21 February 2011

Princess publishes January NAV

Following the performance of +18.4% in 2010 based on the unaudited year-end net asset value (NAV), the NAV of Princess decreased by 1.3% to EUR 8.57 per share in January 2011. The companies in Princess' portfolio continued the strong development of the past year and had a positive effect on the NAV. However, foreign exchange movements had an adverse impact on the January NAV due to the further appreciation of the euro against the US dollar during the past month.

With regards to the strategic repositioning, as previously announced Princess received proceeds of EUR 12.1 million from the secondary sales program in January. Furthermore, at the beginning of February Princess received secondary sales proceeds of EUR 9.1 million. After the settlement of all transactions, total cash proceeds from sold fund interests amount to EUR 50.1 million, which will be used for the repositioning measures including the share buyback program, the plan to resume dividend payments in 2011 and new direct investments going forward.

In January, Princess also received EUR 9.9 million in distributions from realized portfolio companies, compared to EUR 2.1 million in drawdowns for new investment opportunities. Amongst others, Princess received a distribution from the exit of Ardian, a developer of catheter-based therapies to treat hypertension and related conditions. Ardian was recently acquired by the US medical technology company Medtronic for a cash payment of USD 800 million plus potential additional payments based on the company's annual revenue growth over the next four and a half years. Ardian raised seed funding of around USD 66 million from investors since it was founded in 2003 which, compared to the reported sales price of at least USD 800 million, is an aggregate return of more than 12x the original investment.

Dr. Stephan Schäli, Partner and Head Private Equity at Princess' investment advisor Partners Group, comments: "During the past month, Princess continued to benefit from a strong level of distributions. The highly successful exit of Ardian underlines the quality of Princess' mature venture capital portfolio, which generated significant distributions over the past months. The potential for further near-term realizations is also underpinned by the fact that the weighted average age of Princess' portfolio companies in the venture capital segment was 6.8 years at the end of 2010. We believe that many of these mature portfolio companies have been developed over the past years in readiness for a realization and we are thus confident that Princess is well positioned to profit from further successful exits 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.