Net Asset Value(s)

31st January 2013

                   Pantheon International Participations PLC                   

                     Net Asset Value at 31st December 2012                     

Pantheon International Participations PLC ("PIP" or the "Company"), the quoted
private equity fund-of-funds investment trust, today announces an unaudited net
asset value ("NAV") per share of 1,206.3p at 31st December 2012, a decrease of
0.9% for the month. Since PIP received little new valuation information in the
month, the majority of this movement reflects negative foreign exchange
movements.

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 2012, the majority of reported
valuations (accounting for circa 95% by value) are dated 30th September 2012.

At 31st December 2012, PIP's private equity assets stood at £767m, whilst cash
balances were approximately £70m. Undrawn commitments to investments stood at £
183m at 31st December 2012, calculated using exchange rates at that date. In
addition, the Company's multi-currency revolving credit facility agreement,
comprising an US$82m facility and a €57m facility, remained completely undrawn.

PIP saw increased realisation activity, with the portfolio generating £26.6m of
distributions. Calls from existing commitments to private equity funds were £
5.2m in the month. In the quarter to 31st December 2012, PIP generated a
healthy £40.6m of net cash flow from its portfolio.

The Company also invested £3.9m in share buybacks in the month, acquiring
450,000 redeemable shares at a price of 850p. Overall these transactions were
completed at a discount of 30% to the NAV per share at 30th November 2012.

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 £14.9bn under
management (as at 30th September 2012). 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.