Princess announces dividend and Q1 results

News Release

Guernsey, 16 May 2012

Princess announces dividend payment and publishes first quarter 2012 report

The Board of Directors of Princess Private Equity Holding Limited (Princess or the Company) is pleased to announce a first interim dividend of EUR 0.24 per share for the 2012 calendar year. This translates into a dividend yield of 5.3% on the net asset value (NAV) per share as of 31 March 2102 and a yield of 8.0% on the share price, based on the two interim dividend payments to shareholders in the last twelve months and yesterday's closing price on the Frankfurt Stock Exchange (Xetra).

In addition, Princess today published its first-quarter report for the period ended 31 March 2012. The key items were:

n The NAV of Princess increased by 0.7% to EUR 8.87 per share over the first quarter.

n Portfolio company revaluations made a +2.5% contribution to Princess' NAV growth, supported by a combination of successful realizations and positive operating developments by underlying portfolio companies.

n Princess received proceeds from exited investments of EUR 45.3 million, making this the Company's most successful quarter for distributions since the fourth quarter of 2007.

n The main driver of distributions over the quarter was the realization of Princess' direct investment in General Nutrition Centers (GNC), the specialty retailer of health products, and prior to the exit, Princess' largest portfolio company holding. The exit from GNC represented a return of more than 4x the cost of Princess' original direct investment and an IRR above 35%.

Brian Human, Chairman, comments: "The Princess portfolio continued to witness a high number of successful portfolio company realizations and thus a significant level of distributions in the first quarter of 2012. In subsequent quarters, Princess will continue to seek opportunities to increase its direct investment allocation by completing further investments in companies globally, such as Trimco, the Asia-based global provider of apparel labeling solutions, which was acquired after quarter-end. In addition, our intention is to continue to pay semi-annual dividends to our shareholders and we are confident that the company's high dividend yield of currently 8.0% on the share price appeals to new and existing investors alike."

The first interim dividend for the year will be paid on 22 June 2012. The relevant date for the entitlement to the dividend (record date) will be 25 May 2012 and the corresponding ex-dividend date will be 23 May 2012. The Company intends to pay dividends semi-annually following the publication of the quarterly reports as of 31 March and 30 September.

Detailed analysis and commentary on the developments and performance of Princess' portfolio over the first three months of 2012 will be presented in a quarterly report published today. The report can be accessed via: http://www.princess-privateequity.net/financialreports

A copy of the above document has been submitted to the National Storage Mechanism and will shortly be available for inspection at: http://www.Hemscott.com/nsm.do

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 EUR 25 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:

princess@princess-privateequity.net

www.princess-privateequity.net

Registered Number: 35241

Investor relations contact:

Jan-Frederik Modell

Phone: +44 (0)20 7575 2753

E-mail: jan-frederik.modell@partnersgroup.com

Media enquiries:

Partners Group AG

Dr. Anna Hollmann

Communications

Tel.: +41 41 768 83 72

anna.hollmann@partnersgroup.com

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.