Princess publishes Q1 2011 quarterly report

News Release

Guernsey, 13 May 2011

Princess publishes Q1 2011 quarterly report

Princess Private Equity Holding Limited (Princess or the Company) has published its quarterly report as of 31 March 2011 today. Notable events during the first quarter included:

n Having performed well in 2010 with a gain of 18.4%, the net asset value (NAV) of Princess eased by 0.7% in the first quarter of 2011 to close at EUR 8.63 per share, mainly due to adverse foreign exchange effects

n The companies in the Princess portfolio continued the strong momentum of recent quarters and contributed +3.1% to the overall performance of the NAV

n Princess continued to capitalize on the attractive investment environment and completed its first new direct investment in the mezzanine tranche of Newcastle Coal Infrastructure Group, an Australian operator of a coal export terminal

n Thanks to the strong maturity profile of its portfolio, the Company enjoyed a large number of successful exits including the IPO of its largest portfolio company General Nutrition Centers, with distributions from portfolio company exits exceeding capital deployed in new investments by EUR 4.0 million during the first quarter

n As part of its strategic repositioning, the Company also completed the secondary sales of interests in nine buyout funds during the first quarter and launched its share buyback program in January

Brian Human, Chairman of Princess' Board of Directors, comments: "We are pleased with the continued strong operating performance of Princess' portfolio companies, which posted substantial increases in overall earnings and which had again the largest positive impact on the NAV during the first quarter of 2011. Over the coming quarters, we expect to make further progress with the gradual repositioning of the portfolio towards direct investments on the back of the current strong net liquidity position of more than EUR 40 million and the cash flow generated through exits of Princess' portfolio companies. In addition, we are confident that the planned continuation of the share buyback program and the anticipated resumption of dividend payments in the short term should create further value for Princess' shareholders."

A detailed analysis and commentary on the developments at Princess during the first quarter 2011 are presented in the quarterly report published today, which can be accessed via:

http://www.princess-privateequity.net/en/investor_relations/reports.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.