Press Releases

5/30/2007

AP Alternative Assets Announces Senior Secured Credit Facility



Not for release, publication or distribution in the United States

Guernsey, Channel Islands,  May 30, 2007

AP Alternative Assets, L.P. (Euronext Amsterdam: AAA) announced today that AAA Investments, L.P. is in the process of establishing a senior secured credit facility with certain lenders. This facility is anticipated to have an initial availability of at least $750 million and should be finalized in the near term. If such credit facility is ultimately consummated, it is anticipated that it will provide AAA with incremental liquidity and be used in connection with short-term liquidity needs in addition to, leverage for portfolio investments. It is currently anticipated that there will not be an immediate drawdown on this credit facility, but rather drawdowns may occur during the third quarter 2007 and beyond based on AAA's investment pace.

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.

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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