Directorate Change

STANDARD LIFE EUROPEAN PRIVATE EQUITY TRUST PLC

Directorate Changes

2 February 2012

As previously announced, Hamish Buchan retired from the Board at the conclusion of the annual general meeting held today. Edmond Warner has been appointed Senior Independent Director and Alastair Barbour Chairman of the Audit Committee

In addition, the Board announces the resignation of Jo Taylor as a non-executive director with effect from today. Due to a change in his other commitments, Mr Taylor is unable to continue with his directorship of the Company and the Board has, with regret, accepted his resignation.

For Standard Life European Private Equity Trust PLC

Aberdeen Asset Management PLC, Secretary