Pershing Square Holdings, Ltd. (LN:PSH) (NA:PSH) today released an email sent from Pershing Square Capital Management, L.P. to its investors. The text of the email is set forth below:

Dear Pershing Square Investor,

Today, Bill Ackman appeared on CNBC to discuss Pershing Square’s positions in Automatic Data Processing, Inc. (NASDAQ:ADP) and Herbalife (NYSE:HLF). The link to the clip can be found here: www.ADPascending.com.

If you have any questions, please feel free to contact us.

Kind regards,

Pershing Square Investor Relations

ir@persq.com

About Pershing Square Holdings, Ltd.

Pershing Square Holdings, Ltd. (LN:PSH) (NA:PSH) is an investment holding company structured as a closed-ended fund that makes concentrated investments principally in North American companies.

MEDIA:MaitlandJames Devas, +44 20 7379 5151Media-pershingsquareholdings@maitland.co.uk

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