Princess NAV remains unchanged in February

News Release

Guernsey, 22 March 2012

Princess NAV remains unchanged in February

The net asset value (NAV) of Princess Private Equity Holding Limited (Princess) was EUR 8.81 per share as at the end of February 2012, unchanged from last month's NAV.

During the reporting period, valuation developments within the Princess portfolio continued to make a positive contribution to NAV growth (+1.0%), with support primarily coming from successful realizations and ongoing operational improvements by its underlying portfolio companies. For instance, Princess' largest portfolio company holding, General Nutrition Centers (GNC), experienced a sharp increase in its share price during February, after the US nutritional supplements retailer beat its fourth quarter 2011 earnings guidance on the back of strong sales. GNC posted its results for 2011 on 16 February with revenues and net income up 14% and 37% versus the previous year. As a consequence the company's shares traded at almost double its IPO price at the end of February. However, these positives were offset by negative currency effects (-0.8%) as the euro weakened against the US dollar in February.

Building on its strong start to the year, Princess' mature portfolio generated sizable realization proceeds of EUR 10.5 million in February. Two key contributors were Avista Capital Partners' exit from BioReliance (EUR 1.4 million), a leading provider of biopharmaceutical testing services; and MatlinPatterson Global Opportunities Partners' sale of XLHealth (EUR 1.4 million) to UnitedHealthcare. US-based XLHealth provides healthcare programs and services to Medicare beneficiaries with chronic illnesses. Consequently distributions, as in previous months, outpaced investments, which in February totaled EUR 3.3 million. These positive cash flows are ultimately helping to support Princess' liquidity position.

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 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:

[email protected]

www.princess-privateequity.net

Registered Number: 35241

Investor relations contact

Jan-Frederik Modell

Phone: +44 (0)20 7575 2753

E-mail: [email protected]

Media relations contact

Partners Group AG

Dr. Anna Hollmann

Phone: +41 41 784 63 72

E-mail: [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.