Annual General Meeting elected new Board of Directors

Zug, 23 August 2001. - The Annual General Meeting of Private Equity Holding AG held today in Zug was attended by 113 shareholders representing 68 percent of a total of 4'500'000 registered shares.

All proposals of the Board of Directors were approved.
The participating shareholders elected Dr. Marinus W. Keijzer, Stuart D. Frankel (subject to formal consent) and Prof. Dr. Georges Muller as new members to the Board of Directors. Simultaneously, Max Koch and Tony Reis were re-elected, also for a term of office of three years.

The Board of Directors and the management expressed their gratitude to Messrs Nobel, Werner and Schmuckli for their efforts and valuable contribution over many years.
In its first meeting the board of Private Equity Holding AG appointed Dr Keijzer as chairman.


Private Equity Holding AG (SWX: PEHN), managed by Swiss Life Private Equity Partners Ltd. offers investors the opportunity to invest, within a simple legal and tax optimized structure, in broadly diversified and professionally managed private equity portfolios. As of June 30, 2001, Private Equity Holding AG held fund investments in 89 funds and direct investments in 47 companies totaling CHF 1.6 billion. For further information please consult www.peh.ch or contact Eva Kalias, Investor Relations and Communications.

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