Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES 1. Identity of the issuer or the underlying issuer of PANTHEON INTERNATIONALexisting shares to which voting rights are attached: PARTICIPATIONS plc 2. Reason for the notification (please tick the appropriate box or boxes): An acquisition or disposal of voting rights x An acquisition or disposal of qualifying financial instruments which mayresult in the acquisition of shares already issued to which voting rightsare attached An acquisition or disposal of instruments with similar economic effect toqualifying financial instruments An event changing the breakdown of voting rights Other (please specify): 3. Full name of person(s) subject to thenotification obligation: British Empire Securities and General Trust plc 4. Full name of shareholder(s) (if different JP Morgan - Chase Nomineesfrom 3.): Limited a/c CREST BT01C (Sub a/c No. 2) 5. Date of the transaction and date on whichthe threshold is crossed or reached: 6 March 2014 6. Date on which issuer notified: 7 April 2014 7. Threshold(s) that is/are crossed orreached: 4 % 8. Notified details: A: Voting rights attached to shares Class/type of Situation previous Resulting situation after the triggeringshares to the triggering transaction transaction if possible Number Number Number Number of voting % of votingusing of of of shares rights rightsthe ISIN CODE Shares Voting Rights Direct Direct Indirect Direct Indirect Ordinary 67psharesGB 0004148507 1,328,153 1,328,153 1,354,153 1,354,153 0 4.00 0 B: Qualifying Financial Instruments Resulting situation after the triggering transaction Type of financial Expiration Exercise/ Number of voting % of votinginstrument date Conversion rights that may be rights Period acquired if the instrument is exercised/ converted. C: Financial Instruments with similar economic effect to Qualifying FinancialInstrumentsResulting situation after the triggering transaction Type of Exercise Expiration Exercise/ Number of % of votingfinancial price date Conversion voting rightsinstrument period rights instrument refers to Nominal Delta Total (A+B+C) Number of voting rights Percentage of voting rights 1,354,153 4.00 9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: JP Morgan - Chase Nominees Limited is custodian for British Empire Securitiesand General Trust plc Proxy Voting: 10. Name of the proxy holder: 11. Number of voting rights proxy holder will cease to hold: 12. Date on which proxy holder will cease to hold voting rights: 13. Additional information: 14. Contact name: Phoenix Administration Services Limited Company Secretary 15. Contact telephone number: 01245 398984