Result of the Placing and Open Offer

PANTHEON INTERNATIONAL PARTICIPATIONS PLC (the "Company")           
                     RESULTS OF THE PLACING AND OPEN OFFER                     

The Board of Directors of Pantheon International Participations PLC (the "
Company") is pleased to announce the results of a placing (the "Placing") and
open offer (the "Offer") (together, the "Issue") of up to 11,050,000 new
ordinary shares (the "Shares") in the Company at a price of 905p per Share. The
Offer was made on the basis of 1 Share for every 5 ordinary shares held on 17
May 2007. The Issue was over subscribed.

The Issue has raised gross proceeds of approximately £100 million for the
Company. 11,050,000 Shares in aggregate have today been allotted of which
7,674,356 have been allotted pursuant to the Placing and 3,375,644 have been
allotted under the Offer. Under the Offer, pro rata entitlements to 1,939,578
Shares were taken up and applications for a further 1,771,951 Shares were made
by shareholders in addition to their pro rata entitlements. Applications for
Shares in excess of holders' pro rata entitlements have been scaled back to
1,436,066 Shares in aggregate: applications for more than 40,000 Shares were
scaled back on a basis consistent with the scaling back of indicative placing
commitments under the Placing and applications for less than 40,000 Shares were
allocated in full.

Allotment is conditional on admission of the Shares to the Official List and to
trading on the London Stock Exchange's market for listed securities, which is
expected to take place on 20 June 2007. The Shares will, on admission, rank
pari passu with the existing ordinary shares of the Company.

Following admission, the Company will have 37,521,013 ordinary shares of 67
pence each and 28,871,255 redeemable shares of 1 penny each in issue.

19 June 2007

Enquiries:

Rhoddy Swire [phone]

Pantheon International Participations PLC

Michael Buckley [phone]

Capita Sinclair Henderson Ltd (company secretary)

Andrew Lebus [phone]

Pantheon Ventures Limited

Lewis Aldridge [phone]

Pantheon Ventures Limited

Andrew Zychowski [phone]

Dresdner Kleinwort

Robbie Robertson [phone]

Dresdner Kleinwort

Dresdner Kleinwort Securities Limited, which is authorised and regulated by the
Financial Services Authority, is acting for the Company, and for no-one else in
connection with the contents of this announcement and will not be responsible
to anyone other than the Company for providing the protections afforded to
customers of Dresdner Kleinwort Securities Limited, or for affording advice in
relation to the contents of this announcement or any matters referred to
herein. Dresdner Kleinwort Securities Limited is not responsible for the
contents of this document. Dresdner Kleinwort Securities Limited has given and
not withdrawn its written consent to the issue of this announcement with the
inclusion of the reference to its name in the form and context in which it is
included.

Pantheon Ventures Limited, which is authorised and regulated by the Financial
Services Authority, is acting for the Company, and for no-one else in
connection with the contents of this announcement and will not be responsible
to anyone other than the Company for providing the protections afforded to
customers of Pantheon Ventures Limited, or for affording advice in relation to
the contents of this announcement or any matters referred to herein. Pantheon
Ventures Limited has given and not withdrawn its written consent to the issue
of this announcement with the inclusion of the reference to its name in the
form and context in which it is included.