AP Alternative Assets, L.P. Informs Investors of Athene’s Pending Acquisition of Aviva USA

  AP Alternative Assets, L.P. Informs Investors of Athene’s Pending
  Acquisition of Aviva USA

Business Wire

GUERNSEY, Channel Islands -- December 21, 2012

Regulatory News:

In connection with AP Alternative Assets, L.P.’s (“AAA”; Euronext Amsterdam:
AAA) investment in a majority of the equity of Athene Holding Ltd. (“Athene”),
AAA informs investors that on December 21, 2012, Athene announced that it will
acquire the U.S. annuity and life insurance operations (“Aviva USA”) of Aviva
PLC, which has approximately $56.3 billion of statutory admitted assets as of
September 30, 2012, for a purchase price of $1.55 billion. For additional
information regarding Athene, please visit www.athene.com.

As indicated in a press release issued by AAA on December 10, 2012 regarding
the tender offer (the “Tender Offer”) with effect from November 12, 2012 to
purchase for cash up to 6,666,666 of its outstanding units at a range of
$15.00 to $16.00 per unit for a maximum aggregate payment amount of up to $100
million, in order to assist unitholders in making an informed decision as to
whether or not to tender their units, AAA will provide unitholders with
additional information relating to Athene. The offer period relating to the
Tender Offer will be extended for a period of at least 10 business days (in
both the United States and Guernsey) after AAA has released this additional
information, which is expected to occur in the next 25-40 days. AAA will make
a further announcement releasing the additional information and notifying
unitholders of the revised Tender Offer period.

The Tender Offer itself and the full details thereof are provided in a Tender
Offer document available on AAA’s website (www.apolloalternativeassets.com).
Details may be amended or supplemented from time to time on the basis set out

This announcement does not constitute or form part of an offer to sell or
solicitation of an offer to purchase or subscribe for securities in the United
States or in any other jurisdiction. The securities referred to herein have
not been and will not 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 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 securities has been or is being made in the United States or in any other

About AP Alternative Assets

AP Alternative Assets was established by Apollo and is a closed-end limited
partnership established under the laws of Guernsey. Apollo is a leading global
alternative asset manager with 22 years of experience investing across the
capital structure of leveraged companies. AP Alternative Assets is managed by
Apollo Alternative Assets, L.P. For more information about AP Alternative
Assets, please visit www.apolloalternativeassets.com.


AP Alternative Assets
Barry Giarraputo (New York), +1 (212) 515 3478
Ed Gascoigne-Pees (FD in London), +44 (0) 207 269 7132
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