Dividend Declaration

18 JUNE 2018

STANDARD LIFE PRIVATE EQUITY TRUST PLC ("THE COMPANY")

DECLARATION OF SECOND QUARTER DIVIDEND

The Company announces the payment of the second quarter dividend in respect of the year ending 30 September 2018 of 3.1 pence per ordinary share.

This second quarter dividend will be paid on 27 July 2018 to all shareholders on the register as at 29 June 2018. The ex-dividend date is 28 June 2018.

DIVIDEND REINVESTMENT PLAN ("DRIP")

The Company has in place a DRIP which allows shareholders to use their dividends to purchase further ordinary shares in the Company. The last election date to participate in the DRIP is 6 July 2018.

Further information on the DRIP, including the Terms and Conditions and the associated costs can be found via the following link:

https://www.shareview.co.uk/4/Info/Portfolio/default/en/home/shareholders/Pages/ReinvestDividends.aspx

Shareholders who have not previously applied to participate in the DRIP and who wish to do so in respect of the dividend payable on 27 July 2018, should ensure that a mandate form, or CREST instruction if appropriate, is submitted to the Company's registrars, Equiniti Limited, prior to the dividend election date of 6 July 2018. Applications can be made on-line and a mandate form can be downloaded from the above website.

Further information can also be obtained by calling the registrars' shareholder helpline on 0371 384 2618 or by writing to Equiniti Limited, Aspect House, Spence Road, Lancing, West Sussex BN 99 6DA.

For further information please contact:-

Mandy Kelly

Maven Capital Partners UK LLP

Secretary

Tel: 0141 306 7400