Interim Management Statement

For immediate release:

                   PANTHEON INTERNATIONAL PARTICIPATIONS PLC                   

                   INTERIM MANAGEMENT STATEMENT (UNAUDITED)                    

                      FOR QUARTER ENDED 30 SEPTEMBER 2007                      

Pantheon International Participations PLC ("PIP" or the "Company") presents its
interim management statement for the period from 1 July 2007 to 30 September
2007. This constitutes the Company's first interim management statement for the
financial year ending 30 June 2008, as required by the UK Listing Authority's
Disclosure and Transparency Rule 4.3.

The Company published an unaudited Net Asset Value ("NAV") as at 30 September
2007 on 26 October 2007. This interim management statement summarises the
information as at

30 September 2007 and any further developments up to 15 November 2007.

Investment Objective

PIP's primary investment objective is to maximise capital growth by investing
in private equity funds and, occasionally, directly in private companies.

Gearing

No amounts were drawn down under any of PIP's loan facilities at 30 September
2007

Material Events and Transactions

During the quarter ended 30 September 2007 PIP received distributions from
private equity assets of £48 million. PIP invested £79 million in private
equity assets. PIP made commitments of £98 million during the quarter to 7
primary funds (£50 million), 6 secondary transactions (£42 million) and 2
direct investments (£6 million).

Performance

The NAV per share increased by 7.3% over the quarter. During the quarter the
share price discount to NAV widened from 0.2% at 30 June 2007, to 17.4% at 30
September 2007. As at 15 November the share price discount to NAV at 30
September 2007 was 7.9%.

Total Return Performance

                        1 Year  3 Years 5 Years 10 Years    Since    
                                                          Inception* 
                           %    % p.a.  % p.a.   % p.a.              
                                                            % p.a.   
                                                                     
NAV per share            19.8    19.0    13.2     11.7       14.4    
                                                                     
Ordinary Share Price      0.0    16.2    14.7     13.5       13.7    
                                                                     
MSCI World (sterling)    11.6    14.0    13.7     5.0        7.3     
TR                                                                   
                                                                     
FTSE All-Share Index TR  12.2    17.1    16.8     6.1        9.1     

*18 September 1987


General Information

                                     30/09/07        30/06/07        Change    
                                                                               
NAV Per Share                         986.2p          919.2p          7.3%     
                                                                               
Ordinary Share Price                  815.0p          917.5p        (11.2)%    
                                                                               
Redeemable Share Price                787.5p          897.5p        (12.3)%    
                                                                               
Total assets less current             £654.7m        £610.3m          7.3%     
liabilities                                                                    
                                                                               
Outstanding Commitments               £549.1m        £528.0m          4.0%     

Other than as described above the Board is not aware of any events during the
period from

1 July 2007 to the date of this statement which would have a material impact on
the financial position of the Company.

Tom Bartlam

Chairman

19 November 2007

The views information and data in this announcement should not be deemed as a
financial promotion or recommendation. Shareholders are advised that this
statement is unaudited.

For further information please visit PIP's website at

www.pipplc.com or contact:

Andrew Lebus

Pantheon Ventures Ltd

Tel: [phone]