Portfolio Update

3 Jan 2007 16:00

PANTHEON INTERNATIONAL PARTICIPATIONS PLC

In accordance with UKLA Listing Rule 15.4.11(2), the following list representsthe Company's 10 largest investments as at 31 December 2006 and whereappropriate, any investment with a value greater than 5% of the Company's grossassets:Name of company Class of share Monteverdi* Unquoted Fund Bowman Partners Unquoted Fund Klee USA Fund I Unquoted Fund ABS IV Unquoted Fund BC European Capital VII Unquoted Fund Klee Europe Fund II Unquoted Fund Industri Kapital 2000 Unquoted Fund Pantheon Asia Fund III Unquoted Fund Silver Cup Partners Unquoted Fund Klee Europe Fund I Unquoted Fund

*Holding greater than 5% of the company's gross assets.