As previously reported, Private Equity Holding AG and Swiss Life agreed to extend the amendment to the credit facility in the amount of CHF 325 million which was originally due to expire on March 10, 2003. After a detailed evaluation of different financing solutions, the Board of Directors of Private Equity Holding AG narrowed down the options and is now focussing on a limited selection of viable alternatives. Finalizing the future financing solution requires more time and a new timetable was defined. As a consequence, Private Equity Holding AG postpones the publication of the results of the financial year 2002/2003 and the media conference to May 27, 2003.
For reasons of confidentiality, Private Equity Holding AG is unable to make any additional statements about the ongoing negotiations at this time.
* * *
Private Equity Holding AG (SWX: PEHN), managed by Swiss Life Private Equity Partners, offers investors the opportunity to invest, within a simple legal and tax optimized structure, in a broadly diversified and professionally managed private equity portfolio. As of March 31, 2003, the company held fund investments in 86 funds and direct investments in 23 companies.