Doc re. Annual Report & Circular

STANDARD LIFE EUROPEAN PRIVATE EQUITY TRUST PLC ('The Company')

2011 Annual Report and Accounts

Circular to Shareholders regarding New Investment Management Incentive Arrangements, Scrip Dividend Option and Notice of Annual General Meeting

Further to the announcement of 5 October 2011, the Company announces it has today published a circular providing details on the new investment management incentive arrangements, scrip dividend option and notice of annual general meeting.

Copies of the annual report and the circular have been submitted to the National Storage Mechanism and will shortly be available for inspection at: www.Hemscott.com/nsm.do.

16 December 2011