Issue of Debt

Pantheon Intl Participations PLC
22 March 2001


Pantheon International Participations PLC


The Company announces that it has today issued 110,993 further Participating
Loan Notes pursuant to the exercise of its Warrants.


The issue of 110,993 Participating Loan Notes increases the number of
Participating Loan Notes in the Company to 9,931,032. Although the new
Participating Loan Notes have been issued at the warrant subscription price of
250p each, they are deemed to have been issued on 22 November 2000 at an
initial issue price of 654.16p each (being the Adjusted Redemption Value at 30
September 2000).


Application will be made for the new Participating Loan Notes to be admitted
to listing on the Official List of the UK Listing Authority and to trading on
the London Stock Exchange's market for listed securities as soon as possible.



Enquiries:


Alastair Bruce   Tel: [phone]

Pantheon Ventures Limited