Redemption of PLN's

Pantheon Intl Participations PLC
14 August 2001



Pantheon International Participations PLC



Pantheon International Participations PLC (the 'Company') announced on 27 July
2001 that it intended to redeem up to 758,771 Participating Loan Notes of the
Company ('PLNs') at a price per PLN of 658.96 pence (being the adjusted
redemption value per PLN as at 29 June 2001) and having an aggregate value, at
that adjusted redemption value, of up to £5 million.  At the same time the
Company issued a circular to PLN holders notifying them that they may tender
for redemption all or any of their holding of PLNs and informing them of the
procedure for redemption (the 'Circular').



Tenders for redemption have been received from 177 PLN holders in respect of a
total of 3,241,081 PLNs.  The Company will therefore redeem all 758,771 PLNs
as previously announced.  The tenders for redemption will, however, be scaled
back on the basis described in the Circular, so that PLN holders who tendered
PLNs for redemption will have redeemed 23.41 per cent. of those PLNs that they
tendered.  Fractions of PLNs will not be redeemed and the number of PLNs
redeemed will be rounded down to the nearest whole number.





Enquiries:


Alastair Bruce     Tel: [phone]

Pantheon Ventures Limited

[e-mail]