Notice of AGM

Guernsey, 8 April 2011

PRINCESS PRIVATE EQUITY HOLDING LIMITED

(the "Company")

Notice of Annual General Meeting:

Revisions to Investment Policy

Amendments to Articles

The Board has today published notice of the Company's Annual General Meeting to be held on 12 May 2011.

As announced on 20 October 2010, the Board has mandated the Investment Advisor, Partners Group, to implement a gradual portfolio repositioning with the aim of addressing the discount to net asset value and creating shareholder value. The discount has since narrowed from 38.3% as of 20 October 2010 to 26.5% as of 7 April 2011. The repositioning measures agreed upon by the Board include steps to resume dividend payments over the short-term and a gradual redirection of the investment focus of the Company towards direct investments. These measures have been facilitated by a secondary sale of the Company's interests in nine buyout funds (as announced on 10 January 2011), generating cash proceeds of approximately EUR 50.1 million and releasing the Company from EUR 24.4 million in unfunded commitments as of 30 November 2010.

The Board considers that it is now appropriate to ask shareholders to approve revisions to the Investment Policy (as required by the Listing Rules) to change the main focus to direct investments rather than fund investments. Accordingly a resolution to approve the Revised Investment Policy is proposed for adoption at the Company's Annual General Meeting.

The Board will also be taking the opportunity to ask shareholders to approve amendments to the Company's Articles of Incorporation primarily to reflect revisions to the Listing Rules in April last year which apply to overseas companies that, like the Company, have a premium listing.

Circular

A circular (the "Circular") has today been posted to shareholders which includes the Notice of Annual General Meeting (the "Notice"). The Circular and the Notice can also be found on the Company's website at http://www.princess-privateequity.net/en/investor_relations/shareholders_meeting.php?ml.

Ends.

About Princess

Princess is an investment holding company founded in 1999 and domiciled in Guernsey. It invests, inter alia, in private equity and private debt investments. Princess is advised in its investment activities by Partners Group AG, a global private markets investment management firm with over EUR 20 billion in investment programs under management in private equity, private debt, private real estate and private infrastructure. Princess aims to provide shareholders with long-term capital growth and an attractive dividend yield. Princess is traded on the Frankfurt Stock Exchange (ticker symbol: PEY1) and on the London Stock Exchange (ticker symbol: PEY). Further information: www.princess-privateequity.net

Contacts

Princess Private Equity Holding Limited:

[email protected]

www.princess-privateequity.net

Registered Number: 35241

Media enquiries:

Partners Group AG

Dr. Anna Hollmann

Communications

Tel.: +41 41 768 83 72

[email protected]

www.partnersgroup.com

This document does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for any securities and neither is it intended to be an investment advertisement or sales instrument of Princess Private Equity Holding Limited. The distribution of this document may be restricted by law in certain jurisdictions. Persons into whose possession this document comes must inform themselves about, and observe any such restrictions on the distribution of this document. In particular, this document and the information contained therein is not for distribution or publication, neither directly nor indirectly, in or into the United States of America, Canada, Australia or Japan.

This document may have been prepared using financial information contained in the books and records of the product described herein as of the reporting date. This information is believed to be accurate but has not been audited by any third party. This document may describe past performance, which may not be indicative of future results. No liability is accepted for any actions taken on the basis of the information provided in this document. Neither the contents of Princess' website nor the contents of any website accessible from hyperlinks on Princess' website (or any other website) is incorporated into, or forms part of, this announcement.