Monthly Performance Update

29th January 2014

                   Pantheon International Participations PLC                   

                   Performance update at 31st December 2013                    

Pantheon International Participations PLC ("PIP") announces an unaudited net
asset value ("NAV") per share at 31st December 2013 of 1,303.9p, a decrease of
8.4p (0.6%) from the NAV per share at 30th November 2013. Adverse foreign
exchange movements (-10.8p) drove the decrease. PIP received little new
valuation information in the month.

PIP's valuation policy for private equity funds is based on the latest
valuations reported by the managers of the funds in which PIP has holdings. In
the case of PIP's valuation at 31st December 2013, the majority of reported
valuations (accounting for circa 90% by value) are dated 30th September 2013.

At 31st December 2013, PIP's private equity assets stood at £803m, with cash
balances of £68m. Undrawn commitments to investments stood at £188m at 31st
December 2013, calculated using exchange rates at that date. In addition, the
Company's multi-currency revolving credit facility agreement, comprising a
US$82m facility and a €57m facility, remained completely undrawn.

PIP's portfolio generated net cash of £16.9m during the month, with
distributions of £22.8m relative to £5.9m of calls from existing commitments to
private equity funds.

PIP completed nine new investments in the month totalling £80.8m of new
commitments. £70.7m was committed to four secondary portfolios, the majority of
which were US buyout funds. A £3.1m primary commitment was made to Bain XI, a
US buyout fund. A £2.2m co-investment was made alongside CBPE in Allied Glass,
a supplier of glass packaging products for the food and beverage industries. A
£2.1m co-investment was made alongside HgCapital to P&I, a payroll and HR
software provider in Germany. A £1.4m co-investment was made alongside Apax to
INSEEC, a French post-secondary education services provider. Finally, a £1.3m
commitment was made alongside Wasserstein & Co. to Globecomm, a communications
services and infrastructure provider.

During the month, PIP invested £3.0m in share buybacks, acquiring 300,000
redeemable shares at a price of 995.0p per share. The share buybacks were
executed at discount of 24% to the NAV per share at 30th November 2013.

Monthly Report

The December monthly newsletter can be accessed on PIP's website at 
www.pipplc.com in the Investor Relations section under the heading "Reports &
Newsletters", or by following this link: http://www.pipplc.com/
investor-relations/financial-reports.

                                     Ends                                      

NOTES

PIP

PIP is a London quoted investment trust, managed by Pantheon Ventures (UK) LLP
("Pantheon"), one of the longest-established international private equity
fund-of-funds managers, investing in both primary funds and secondary
transactions. With investments in private equity funds, covering multiple
private equity strategies ranging from investments in late stage buyouts to
early stage technology, PIP enables individuals as well as institutions to gain
access to a substantial portfolio of unquoted companies in the USA, the UK,
Continental Europe and Asia, within funds managed by experienced private equity
managers. PIP may occasionally acquire direct holdings in unquoted companies,
usually where a vendor is seeking to sell a combined portfolio of funds and
direct holdings. PIP's investment policy also extends to investing directly in
companies where there is a private equity manager well known to the Company
investing on the same terms.

Pantheon

Pantheon has been active in private equity since 1982 and is now one of the
world's leading private equity fund-of-funds managers, with £17.3bn under
management (as at 30th September 2013). Pantheon's offices are located in
London, San Francisco, New York and Hong Kong, and it has made investments in
over 1,000 funds globally.

For more information please visit PIP's website at www.pipplc.com or contact:

Andrew Lebus or Alexis Barling

Pantheon

020 7484 6200

Neither the contents of the Company's website nor the contents of any website
accessible from hyperlinks on the Company's website (or any other website) is
incorporated into, or forms part of this announcement.

                                                                               

                   Pantheon International              Telephone +44 (0) 20    
                   Participations PLC                  7484 6200               
                                                                               
                   Norfolk House                       Facsimile [phone]
                                                       6201                    
                   31 St. James's Square                                       
                                                       E-mail:                 
                   London SW1Y 4JR                     [e-mail]     
                                                                               
                                                       Internet: www.pipplc.com

Registered office: Beaufort House, 51 New North Road, Exeter, Devon EX4 4EP. 
Incorporated in England number: 2147984.                                     
                                                                             
An investment company under section 833 of the Companies Act 2006. Managed by
Pantheon Ventures (UK) LLP.