Director Shareholding

Pantheon International Participations PLC                   

On 22 March 2004, the Company made an announcement, amending an announcement
dated 22 December 2003, and stating that the interest of Mr Swire, a Director
of the Company, had previously been stated incorrectly. Following further
investigation into the share holding of Mr Swire it is confirmed that the
original announcement, dated 22 December 2003, was correct.

The current interest of Mr Swire, (including the purchase of shares announced
on 1 April 2004) is 64,526 ordinary 67p shares of the Company (representing
0.30% of the issued class of capital).

Mr Swire's holding of 5,916 Participating Loan Notes remains unchanged.

30 July 2004