Pantheon Reduces Unfunded Commitments

Pantheon International, a listed UK private equity fund-of-funds investment trust, announced that in it has entered into various agreements with institutional investors in which a number of PIP’s fund interests will be sold, reducing PIP’s unfunded commitments by GBP 154 million from GBP687 million (as at 31 March 2009) to GBP533 million.

Press release:

PANTHEON INTERNATIONAL PARTICIPATIONS PLC REDUCES UNFUNDED COMMITMENTS The Board of Pantheon International Participations PLC (`PIP’), the quoted private equity fund-of-funds investment trust, today announced that in order to manage both the profile of its existing investments and the level of outstanding commitments, it has entered into various agreements with institutional investors pursuant to which a number of PIP’s fund interests will be sold, the effect of which will be to reduce PIP’s unfunded commitments by GBP 154 million from GBP687 million (as at 31 March 2009) to GBP533 million. The agreements are conditional upon reciept of consents for the transfer of the relevant fund interests and other closing conditions that are customary for deals of their respective sizes. The Company estimates that the impact of the disposals will be to reduce the net asset value per share as at 31st March 2009 by approximately 102p. The effect would have been similar on the NAV per share as at 31 December 2008 which was 1126.3p. The Company is in the process of pursuing a number of additional transactions intended to ensure, once completed, that PIP will be in a position to fund all its remaining commitments for the foreseeable future. The Board will make a further announcement later this week to update shareholders as to its liquidity and borrowings, as well as the Company’s net asset value as at 31 March 2009 and to provide further detail on the above-mentioned disposals. Ends NOTES PIP Pantheon International Participations PLC (`PIP’) is a London quoted investment trust, managed by Pantheon Ventures Ltd., one of the longest-established international private equity fund-of-funds manager, investing in both primary funds and secondary transactions. With investments in private equity funds, covering late stage buyouts to early stage technology, PIP enables individuals as well as institutions to gain access to a substantial portfolio of unquoted companies in the USA, the UK, Continental Europe and Asia, within funds managed by experienced private equity managers. PIP’s assets represent approximately 9% of the total assets managed by Pantheon Ventures. www.pipplc.com Pantheon Ventures Ltd. Pantheon has been active in private equity since 1982 and is now one of the world’s leading private equity fund-of-funds managers, with over GBP16 billion under management (as at 31 December 2008), investments in some 1,000 private equity funds in over 30 countries and offices in London, San Francisco, New York and Hong Kong. Pantheon is part of Russell Investments. For more information please contact: Andrew Lebus 020 7484 6200 END