Princess NAV up by 4.4% in the first half of 2011

News Release

Guernsey, 10 August 2011

Princess NAV up by 4.4% in the first half of 2011

Princess Private Equity Holding Limited (Princess or the Company) today published its half-yearly report for the period ended 30 June 2011. Notable events included:

n Princess' net asset value (NAV) increased by 4.4% to EUR 8.85 per share over the first half of 2011, adjusted for the interim dividend payment declared in May 2011.

n Portfolio companies contributed 9.9% to NAV growth, as strong improvements in operating results and successful exits supported positive company revaluations.

n Princess began to implement the policy of redirecting its investment focus towards direct investments by closing three new direct transactions worth EUR 12.1 million.

n Total distributions from realized portfolio companies amounted to EUR 58.7 million, thanks to the favorable exit environment and the maturity of Princess' portfolio companies (with an average holding period of 4.3 years).

n Notable realizations included the successful initial public offering of Princess' largest portfolio company General Nutrition Centers.

n The Board of Directors declared an interim dividend of EUR 0.22 per share in May, translating to an annualized dividend yield on NAV of 5.1% and an annualized yield on the share price of 7.7% based on yesterday's closing price on the Frankfurt Stock Exchange (Xetra). In addition, the Company agreed a new EUR 80 million multi-currency credit facility in July.

Brian Human, Chairman of Princess' Board of Directors, comments: "We view Princess to be well positioned given the strong net liquidity, the positive cash flow from the underlying portfolio and the new credit facility with an extended maturity until July 2014. Considerable progress has been made with the strategic repositioning of Princess and we expect to complete further direct investments over the remainder of 2011, supported by the strong liquidity position. During the second quarter we also announced the resumption of the long-term dividend program. We are confident that the gradual transition of the portfolio towards direct investments and the attractive dividend yield on offer should create further value for Princess' shareholders."

A detailed analysis and commentary on the developments at Princess during the first half 2011 are presented in the half-yearly report published today, 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.