Holding(s) in Company

TR-1: Notifications of Major Interests in Shares                               
                                                                               
1. Identity of the issuer or the underlying issuer of      PANTHEON            
existing shares to which voting rights are attached:       INTERNATIONAL       
                                                           PARTICIPATIONS PLC  
                                                                               
2. Reason for notification (yes/no)                                            
                                                                               
An acquisition or disposal of voting rights                          ACQUISITION
                                                                               
An acquisition or disposal of financial instruments which may result           
in the acquisition of shares already issued to which voting rights             
are attached                                                                   
                                                                               
An event changing the breakdown of voting rights                               
                                                                               
Other (please specify):______________                                          
                                                                               
                                                                               
                                                                               
3. Full name of person(s) subject to notification         ASSET VALUE INVESTORS
obligation:                                               LTD                  
                                                                               
                                                                               
                                                                               
4. Full name of shareholder(s) (Registered Holders)       StateStreet Nominees 
                                                          - 01RP &  ASV0       
                                                                               
                                                          BoNY Nominees -      
                                                          392213               
                                                                               
                                                          Mellon Nominees -    
                                                          COLF1283002          
                                                                               
                                                          Chase Nominees -     
                                                          11429 &  32072       
                                                                               
                                                          NorTrust Nominees -  
                                                          YUE03                
                                                                               
                                                                               
                                                                               
5. Date of transaction (and date on which the threshold                        
is crossed or reached if different):                        03 MARCH 2010                   
                                                                  
                                                                               
                                                                               
                                                                               
6. Date on which issuer notified:                         04 MARCH 2010        
                                                                               
                                                                               
                                                                               
7. Threshold(s) that is/are crossed or reached:           5%                   
                                                                               

 

8: Notified Details                                                            
                                                                               
A: Voting rights attached to shares                                            
                                                                               
                                                                               
                                                                               
Class/type  Situation previous to the    Resulting situation after the         
of shares   triggering transaction       triggering transaction                
                                                                               
If possible Number of   Number of voting Number    Number of          Percentage of  
use ISIN    shares      rights           of        voting rights      voting rights  
code                                     shares                                
                                                   Direct    Indirect Direct Indirect
                                                                               
GB0004148507  0           0             1,950,000  1,880,326          5.01%     0% 
                                                             
                                                                       
                                                                               
Ordinary Shares                                                                
                                                                               

 

B: Financial Instruments                                                       
                                                                               
                                                                               
                                                                               
Resulting situation after the triggering transaction                           
                                                                               
                                                                               
                                                                               
Type of     Expiration Exercise/    No. of voting rights that may   Percentage 
financial   date       conversion   be acquired (if the instrument  of voting  
instrument             period/date  exercised/converted)            rights     
                                                                               
                                                                               
                                                                               
     N / A                                                                     
                                                                               

 

Total (A+B)                                        
                                                   
                                                   
                                                   
Number of voting rights    Percentage of voting rights
                                                   
1,880,326                  5.01%                      
                                                   

 

9. Chain of controlled undertakings through which the voting rights and /or the
financial instruments are effectively held, if applicable:                     
                                                                               
                                                                               
                                                                               

 

Proxy Voting:                                                     
                                                                  
                                                                  
                                                                  
10. Name of proxy holder:                                         
                                                                  
                                                                  
                                                                  
11. Number of voting rights proxy holder will cease to hold:      
                                                                  
                                                                  
                                                                  
12. Date on which proxy holder will cease to hold voting rights:  
                                                                  
                                                                  
                                                                  

 

13. Additional       Asset Value Investors acts as discretionary manager for   
information:         all funds mentioned in 4.                                 
                                                                               
                                                                               
                                                                               
14 Contact name:     Asset Value Investors Limited                             
                                                                               
                     Daniel Sadler                                             
                                                                               
15. Contact          0207 647 2919                                             
telephone name: