LIMITED PARTNERSHIPS ACT 1907

Notice is hereby given that, pursuant to section 10 of the Limited Partnerships Act 1907, on 20 January 2006 Portfolio Advisors III-A, Ltd transferred to Portfolio Advisors Private Equity Fund III, L.P. 45.8011% of the interest held by it in PAI Europe IV-B (the “Partnership”), a limited partnership registered in England with number LP009991 and that with effect from 20 January 2006 Portfolio Advisors Private Equity Fund III, L.P. became a limited partner in the Partnership. For and on behalf of PAI Europe IV-B by its general partner PAI Europe IV General Partner Limited. 20 January 2006.