Monthly Performance Update

22nd May 2014

                   Pantheon International Participations PLC                   

                     Performance update at 30th April 2014                     

Pantheon International Participations PLC ("PIP") announced an unaudited net
asset value ("NAV") per share at 30th April 2014 of 1,341.2p, a decrease of
2.9p (-0.2%) from the NAV per share as at 31st March 2014. Valuation gains
(10.0p, 0.8%), investment income (1.2p, 0.1%) and share buybacks (2.0p, 0.1%)
were offset by foreign exchange losses (-14.7p, -1.1%) and expenses (-1.4p,
-0.1%).

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 30th April 2014, the majority of reported
valuations (accounting for circa 97% by value) are dated 31st December 2013 or
later.

At 30th April 2014, PIP's private equity assets stood at £800m, with cash
balances of £90m. Undrawn commitments to investments stood at £186m at 30th
April 2014, 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 £7.8m during the month, with
distributions of £12.6m relative to £4.8m of calls from existing commitments to
private equity funds.

PIP completed two co-investments during the month, a £4.7m co-investment
alongside Headland Capital Partners in Miclyn Express Offshore Limited, a
provider of service vessels to the offshore oil & gas sector in Southeast Asia,
Australia and the Middle East, and a £2.2m co-investment alongside Svoboda
Capital Partners in Reliable Parts Ltd., a leading distributor of appliance
parts throughout North America.

During the month, PIP invested £5.3m in share buybacks, acquiring 250,000
ordinary shares for a total of £2.8m at a price of 1,090.0p per share (19%
discount to NAV per share at 31st March 2014), and 240,000 redeemable shares
for a total of £2.5m at a price of 1,050.0p per share (22% discount to NAV per
share at 31st March 2014).

Monthly Report

The April 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"), a leading global private equity fund investor, investing in both
primary funds and secondary transactions, and from time to time capitalising
further on its fund investment activities by acquiring direct holdings in
unquoted companies, usually either where a vendor is seeking to sell a combined
portfolio of fund interests and direct holdings or where there is a private
equity manager, well known to Pantheon, investing on substantially the same
terms. 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.

Pantheon

Pantheon is a leading global private equity fund investor that invests on
behalf of over 400 institutional investors. Established over 30 years, Pantheon
has developed a strong reputation and track record in primary, secondary and
co-investments and across all stages and geographies. Pantheon has £17.3
billion in AUM (as at 31st December 2013), over 180 employees, including over
70 investment professionals, located across offices in London, San Francisco,
New York, Hong Kong, Seoul and Bogotá.

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 [phone]    
                   Participations PLC                  Facsimile [phone]               
                   Norfolk House                       E-mail: [e-mail]                   
                   31 St. James's Square               Internet: www.pipplc.com                  
                   London SW1Y 4JR                     

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.