Appointment of Co-Manager

APPOINTMENT OF J.P. MORGAN ASSET MANAGEMENT (UK) LIMITEDAS CO-MANAGER

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GUERNSEY, 30 DECEMBER 2010 

J.P. Morgan Private Equity Limited ("JPEL" or the "Company") announces that J.P. Morgan Asset Management (UK) Limited ("JPMAM") has been appointed as its co-manager.

The addition of JPMAM as co-manager reflects the appointment of the legal entity which employs the London-based members of the JPEL team and will have no adverse impact on the operations or management of the Company.

JPMAM has been appointed on the same material terms as contained in the existing Investment Management Agreement with the current manager, Bear Stearns Asset Management Inc. ("BSAM"). In particular, the fees currently payable by the Company in respect of the investment management services will not be amended. JPMAM is authorised and regulated in the United Kingdom by the Financial Services Authority.

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About J.P. Morgan Private Equity Limited

J.P. Morgan Private Equity Limited is a Guernsey registered and incorporated, London Stock Exchange-listed, closed-ended investment company (LSE: JPEL, JPEZ, JPZZ) designed primarily to invest in the global private equity market. The investment objective of the Company is to achieve both short and long-term capital appreciation by investing in a well diversified portfolio of private equity fund interests and by capitalising on the inefficiencies of the secondary private equity market. On 17 August 2009, JPEL issued warrants free of subscription cost to shareholders on record. The warrants are publicly traded on the London Stock Exchange under the symbol "JPWW."

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