RNS Number:8551R
Schroder Ventures Intl Inv Tst PLC
10 November 2003




For immediate release 10 November 2003


SCHRODER VENTURES INTERNATIONAL INVESTMENT TRUST PLC ("SVIIT")

PARTIAL REALISATION OF SIRONA DENTAL SYSTEMS, FULL REALISATION OF TFL AND UPDATE
OF P123 FUNDRAISING

Partial realisation of the majority of Sirona Dental Systems ("Sirona")

Funds advised by Permira have sold the dental equipment division of Sirona,
valuing SVIIT's direct and indirect* investment in this division of Sirona at
#24.0 million. The gross value of this partial realisation compares to a gross
valuation of SVIIT's entire holding in Sirona at June 2003 of #20.3 million**,
an uplift of 18%.

Allowing for the provision of carry, the net value of this partial realisation
for SVIIT is #19.3 million**. SVIIT expects to receive net proceeds of #15.3
million from the sale, the remainder being held within P123 for reinvestment in
Permira Europe III.

Funds advised by Permira have retained their investment in Demedis, the dental
distribution division of Sirona.

The transaction is subject to the approval of the cartel authority and the
signing of bank documentation, which is expected this week.

Full realisation of TFL

Funds advised by Permira have realised their entire holding in TFL valuing
SVIIT's total direct and indirect* investment in this company at #11.2 million*
*, a 23% uplift to the June 2003 valuation of #9.1 million**. SVIIT expects to
receive proceeds of #10.4 million from the sale, the remainder being held within
P123 for reinvestment in Permira Europe III.

P123 Fundraising

To date, P123 has received firm indications from investors of Euro145 million.
Potential investors representing approximately a further Euro60 million are
currently conducting due-diligence. It is expected that P123 will have a final
close in December 2003.

For further information, please contact:

Schroder Ventures International Investment Trust plc
Nick Ferguson                                                      020 7010 8911

Schroder Ventures (London) Limited
Alice Todhunter                                                    020 7010 8925

Weber Shandwick Square Mile
Peter Corbin                                                       020 7067 0700



*  through its holding in P123.
** Assuming P123 is fully raised and the transfer of the appropriate portion of
   SVIIT's interests in Permira Europe I and II to P123.



                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
STRGLBDBCSBGGXG