Pantheon International Regulatory News (PIN)

5 May 2006 15:14

For immediate release 5 May 2006 PANTHEON INTERNATIONAL PARTICIPATIONS PLC REDEMPTION OF REDEEMABLE SHARES Following the announcement on 27 April 2006 of the Company's net asset value asat 31 March 2006 and in line with its policy of periodically allowingredemptions of the redeemable shares in its capital (`Redeemable Shares') atthe prevailing net asset value per share, subject to having sufficientdistributable profits and net assets and sufficient available cash resourcesfor this purpose, the Company announces that it intends to redeem on 26 May2006 (`Redemption Date') up to 1,246,727 Redeemable Shares at a price perRedeemable Share of 802.1p pence, being the NAV per share at 31 March 2006, andhaving an aggregate value at such price of up to approximately ‚£10,000,000.The Company therefore intends today to issue a circular to Redeemable Shareholders notifying them that they may tender for redemption all or any of theirholding of Redeemable Shares and informing them of the procedures forredemption. If, on the Redemption Date, the number of Redeemable Shares whichhave been validly tendered for redemption exceeds 1,246,727, tenders shall besubject to scaling back on the basis described in the circular. The full textof the circular is available for inspection at the UKLA Document ViewingFacility, 25 The North Colonnade, Canary Wharf, London E14 5HS. ## Ends ### For more information please contact:Pantheon International Participations PLC 020 7484 6200Rhoddy SwirePantheon Ventures 020 7484 6200Alastair Bruce / Andrew LebusNOTESPIP's valuation policy for private equity funds is based on the latest accountsproduced by the managers of the funds in which of PIP has holdings. In the caseof the valuation as at 31 March 2006, the majority of valuations are dated 31December 2005. Private equity funds may contain a proportion of quoted sharesfrom time to time, for example where the underlying company investments havebeen taken public but the holdings have not yet been sold. PIP's Manager,Pantheon Ventures Limited, has reviewed the quoted market holdings at the dateof the latest fund accounts and has included the value of those holdings as at31 March 2006.PIPPantheon International Participations (`PIP') is a London quoted investmenttrust, managed by Pantheon Ventures Ltd., one of the longest-establishedinternational private equity fund-of-funds, investing in both primary funds andsecondary transactions. With investments in over 300 private equity funds,covering late stage buyouts to early stage technology, PIP enables individualsas well as institutions to gain access to a substantial portfolio of unquotedcompanies in the USA, the UK, Continental Europe and Asia, within funds managedby experienced private equity managers. PIP may occasionally acquire directholdings in unquoted companies, usually where a vendor is seeking to sell acombined portfolio of funds and direct holdings. PIP's investment policy alsoextends to investing directly in companies where there is a private equitymanager well known to the Company investing on the same terms. www.pipplc.comPantheon Ventures Ltd.Pantheon has been active in private equity since 1982 and is now one of theworld's leading private equity fund-of-funds managers, with ‚£6.6 billion undermanagement (as at 31 December 2005), investments in some 500 private equityfunds in over 30 countries and offices in London, San Francisco, Hong Kong andBrussels. In 2004, the firm became part of Russell Investment Group, a globalleader in multi-manager investment.ENDPANTHEON INTERNATIONAL PARTICIPATIONS PLC