Press Releases

7/18/2007

AP Alternative Assets Releases Estimated June 30, 2007 Net Asset Value



Not for release, publication or distribution in the United States


Guernsey, Channel Islands,  July 18, 2007

This announcement does not constitute or form part of an offer to sell or solicitation of an offer to purchase or subscribe for securities issued by AP Alternative Assets, L.P. in the United States or in any other jurisdiction. No such securities have been or will be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or under the securities laws of any other jurisdiction, and such securities may not be offered or sold in the United States or in any other jurisdiction absent registration or pursuant to an applicable exemption from the registration requirements of the Securities Act or from the registration requirements in any such other jurisdiction. No public offering of AP Alternative Assets' securities has been or is being made in the United States or in any other jurisdiction.


About AAA
AP Alternative Assets was established by Apollo and is a closed-end limited partnership established under the laws of Guernsey. Apollo is a leading private equity and capital markets investor with 17 years of experience investing across the capital structure of leveraged companies. AP Alternative Assets is managed by Apollo Alternative Assets and invests in and co-invests with Apollo's private-equity and capital-markets investment funds. For more information about AP Alternative Assets please visit www.apolloalternativeassets.com.

Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements involve risks and uncertainties because they relate to future events and circumstances. Such statements are based on currently available operating, financial and competitive information and are subject to various risks and uncertainties that could cause actual results and developments to differ materially from the historical experience and expressed or implied expectations of AAA. Undue reliance should not be placed on such forward-looking statements. Forward-looking statements speak only as of the date on which they are made and AAA does not undertake to update its forward-looking statements unless required by law.



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