Princess' NAV gains 1.6% in September

News Release

Guernsey, 24 October 2011

Princess' NAV gains 1.6% in September

The net asset value (NAV) of Princess Private Equity Holding Limited (Princess) gained 1.6% in September, to close the month and the third quarter at EUR 9.06 per share. This performance also means that in spite of recent public stock market developments Princess' NAV growth year-to-date now stands at 6.9%. Successful realizations of portfolio companies proved to be one of the main performance drivers over the month, most notably, the announced sale of the UK's leading specialist credit card lender SAV Credit. The portfolio company was sold above its previous carrying value and thereby added 0.5% to September's NAV. The sale is expected to deliver a double-digit rate of return over a nine-year period for Palamon. During the month, valuation developments had an overall impact of -0.8% on Princess' NAV as volatile public markets continued to weigh on the value of its listed portfolio companies. Currency movements nonetheless provided a significant boost (+2.8%) to performance as the US dollar appreciated relative to the euro.

In September, Princess further advanced the redirection of its investment focus towards direct investments by completing a EUR 4.5 million direct mezzanine investment into Securitas Direct, the Swedish headquartered provider of monitored alarm solutions for residential and small business customers. Total investments by Princess over the month equated to EUR 9.9 million. Contrary to the recent trend, distributions lagged investments in September, with underlying portfolio holdings returning an aggregate of EUR 3.9 million to Princess. Overall, the Company's balance sheet remains in a healthy position, with net liquidity of EUR 19.0 million or 3.0% of NAV and no money drawn from the new credit facility.

Furthermore, the previously announced sale of Nycomed to Takeda Pharmaceutical, representing around 1.3% of Princess' NAV, was completed during the month of September, with the respective cash proceeds expected over the coming months.

Princess will hold a conference call later today, 24 October 2011, at 10.00am BST to update interested parties on the recent developments of the Princess portfolio. The information announced will refer to unaudited figures as of 30 September 2011. 

Date: Monday, 24 October 2011

Time: 10:00-11:00am (Dublin, London)

11:00-12:00pm (Zurich, Frankfurt)

Phone number: +44 (0) 203 059 58 62 (from the UK)

+41 (0) 91 610 56 00 (from Continental Europe)

+1 (1) 866 291 41 66 (from the US)

All lines will be open ten minutes prior to the beginning of the conference call.

The results presentation will be available at http://www.princess-privateequity.net/en/investor_relations/web_cast_live-events.php?ml ahead of the conference call.

Further information is available in the monthly report which can be accessed via: 

http://www.princess-privateequity.net/financialreports.

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.