AP Alternative Assets Schedules the Release of Its Financial Results and a Conference Call Relating to the Quarter Ended March 31, 2007

AP Alternative Assets, L.P. (Euronext Amsterdam: AAA) announced
today that it will release its financial results for the quarter ended
March 31, 2007, on Tuesday, May 29, 2007, following the close of
trading on Euronext Amsterdam N.V.'s Eurolist by Euronext.

The company will discuss its financial results during a conference
call on Wednesday, May 30, 2007, at 2:30 p.m. CET (Amsterdam) / 1:30
p.m. GMT (London) / 8:30 a.m. EST (New York). All interested parties
are welcome to participate. You can access this call by dialing 20 717
6857 within The Netherlands or 31 20 717 6857 outside of The
Netherlands. Please dial-in approximately 5 to 10 minutes prior to the
call. When prompted, callers should reference "AAA Earnings Call". An
archived replay of the conference call will also be available through
June 15, 2007, via the company's website at
www.apolloalternativeassets.com.

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.