Net Asset Value(s)

PANTHEON INTERNATIONAL PARTICIPATIONS PLC - Net Asset Value(s)

PR Newswire

London, January 30

Pantheon International Participations PLC ("PIP" or the "Company"), the quotedprivate equity fund-of-funds investment trust, today announces an unaudited netasset value ("NAV") per share of 1,206.3p at 31st December 2012, a decrease of0.9% for the month. Since PIP received little new valuation information in themonth, the majority of this movement reflects negative foreign exchangemovements.

PIP's valuation policy for private equity funds is based on the latestvaluations reported by the managers of the funds in which PIP has holdings. Inthe case of PIP's valuation at 31st December 2012, the majority of reportedvaluations (accounting for circa 95% by value) are dated 30th September 2012.

At 31st December 2012, PIP's private equity assets stood at £767m, whilst cashbalances were approximately £70m. Undrawn commitments to investments stood at £183m at 31st December 2012, calculated using exchange rates at that date. Inaddition, the Company's multi-currency revolving credit facility agreement,comprising an US$82m facility and a €57m facility, remained completely undrawn.

PIP saw increased realisation activity, with the portfolio generating £26.6m ofdistributions. Calls from existing commitments to private equity funds were £5.2m in the month. In the quarter to 31st December 2012, PIP generated ahealthy £40.6m of net cash flow from its portfolio.

The Company also invested £3.9m in share buybacks in the month, acquiring450,000 redeemable shares at a price of 850p. Overall these transactions werecompleted at a discount of 30% to the NAV per share at 30th November 2012.

Monthly Report

The December monthly newsletter can be accessed on PIP's website at www.pipplc.com in the Investor Relations section under the heading "Reports &Newsletters", or by following this link: http://www.pipplc.com/investor-relations/financial-reports.

PIP is a London quoted investment trust, managed by Pantheon Ventures (UK) LLP("Pantheon"), one of the longest-established international private equityfund-of-funds managers, investing in both primary funds and secondarytransactions. With investments in private equity funds, covering multipleprivate equity strategies ranging from investments in late stage buyouts toearly stage technology, PIP enables individuals as well as institutions to gainaccess to a substantial portfolio of unquoted companies in the USA, the UK,Continental Europe and Asia, within funds managed by experienced private equitymanagers. PIP may occasionally acquire direct holdings in unquoted companies,usually where a vendor is seeking to sell a combined portfolio of funds anddirect holdings. PIP's investment policy also extends to investing directly incompanies where there is a private equity manager well known to the Companyinvesting on the same terms.

Pantheon

Pantheon has been active in private equity since 1982 and is now one of theworld's leading private equity fund-of-funds managers, with £14.9bn undermanagement (as at 30th September 2012). Pantheon's offices are located inLondon, San Francisco, New York and Hong Kong, and it has made investments inover 1,000 funds globally.

For more information please visit PIP's website at www.pipplc.com or contact:

Andrew Lebus or Alexis Barling

Pantheon

020 7484 6200

Neither the contents of the Company's website nor the contents of any websiteaccessible from hyperlinks on the Company's website (or any other website) isincorporated into, or forms part of this announcement.

Registered office: Beaufort House, 51 New North Road, Exeter, Devon EX4 4EP. Incorporated in England number: 2147984.

An investment company under section 833 of the Companies Act 2006. Managed byPantheon Ventures (UK) LLP.