Application for Listing

To: RNS

From: Standard Life European Private Equity Trust PLC

Date: 31 December 2012

Standard Life European Private Equity Trust PLC

CONVERSION OF FOUNDER SHARES AND ISSUE OF NEW ORDINARY SHARES

Application has been made to the UK Listing Authority and the London Stock Exchange Plc for 139,389 Ordinary shares of 0.2p each ("Shares") to be admitted to the Official List.

It is expected that permission to admit the shares will be granted on 31 December 2012 and that dealings will commence on 2 January 2013.

These shares are being issued due to the conversion of founder A shares into ordinary shares in accordance with the Company's Articles of Association.

These shares will rank pari passu with the existing issued Ordinary shares and following admission, there will be 162,367,955 Ordinary shares in issue.

For Standard Life European Private Equity Trust PLC

Personal Assets Trust Administration Company Limited, SECRETARY

Enquiries: 0131 538 6603