Interim Management Statement

19 Nov 2007 12:21

For immediate release:

PANTHEON INTERNATIONAL PARTICIPATIONS PLC INTERIM MANAGEMENT STATEMENT (UNAUDITED) FOR QUARTER ENDED 30 SEPTEMBER 2007

Pantheon International Participations PLC ("PIP" or the "Company") presents its interim management statement for the period from 1 July 2007 to 30 September 2007. This constitutes the Company's first interim management statement for the financial year ending 30 June 2008, as required by the UK Listing Authority's Disclosure and Transparency Rule 4.3.

The Company published an unaudited Net Asset Value ("NAV") as at 30 September 2007 on 26 October 2007. This interim management statement summarises the information as at

30 September 2007 and any further developments up to 15 November 2007.

Investment Objective

PIP's primary investment objective is to maximise capital growth by investing in private equity funds and, occasionally, directly in private companies.

Gearing

No amounts were drawn down under any of PIP's loan facilities at 30 September 2007

Material Events and Transactions

During the quarter ended 30 September 2007 PIP received distributions from private equity assets of ‚£48 million. PIP invested ‚£79 million in private equity assets. PIP made commitments of ‚£98 million during the quarter to 7 primary funds (‚£50 million), 6 secondary transactions (‚£42 million) and 2 direct investments (‚£6 million).

Performance

The NAV per share increased by 7.3% over the quarter. During the quarter the share price discount to NAV widened from 0.2% at 30 June 2007, to 17.4% at 30 September 2007. As at 15 November the share price discount to NAV at 30 September 2007 was 7.9%.

Total Return Performance

1 Year 3 Years 5 Years 10 Years Since Inception* % % p.a. % p.a. % p.a. % p.a. NAV per share 19.8 19.0 13.2 11.7 14.4 Ordinary Share Price 0.0 16.2 14.7 13.5 13.7 MSCI World (sterling) 11.6 14.0 13.7 5.0 7.3 TR

FTSE All-Share Index TR 12.2 17.1 16.8 6.1 9.1

*18 September 1987General Information 30/09/07 30/06/07 Change NAV Per Share 986.2p 919.2p 7.3% Ordinary Share Price 815.0p 917.5p (11.2)% Redeemable Share Price 787.5p 897.5p (12.3)% Total assets less current ‚£654.7m ‚£610.3m 7.3% liabilities Outstanding Commitments ‚£549.1m ‚£528.0m 4.0%

Other than as described above the Board is not aware of any events during the period from

1 July 2007 to the date of this statement which would have a material impact on the financial position of the Company.

Tom BartlamChairman19 November 2007

The views information and data in this announcement should not be deemed as a financial promotion or recommendation. Shareholders are advised that this statement is unaudited.

For further information please visit PIP's website at

www.pipplc.com or contact:Andrew LebusPantheon Ventures LtdTel: 020 7484 6200