Fourth Quarter Dividend Declaration

12 December 2019

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

Legal Entity Identifier (LEI): 2138004MK7VPTZ99EV13

DECLARATION OF FOURTH QUARTER DIVIDEND

The Company announces the payment of the fourth quarter dividend in respect of the year ending 30 September 2019 of 3.2 pence per ordinary share.

This fourth quarter dividend will be paid on 24 January 2020 to all shareholders on the register as at 20 December 2019. The ex-dividend date is 19 December 2019.

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 3 January 2020.

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 24 January 2020, 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 3 January 2020. 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:-

Paul Evitt

Aberdeen Asset Management PLC

Company Secretary

Tel: 0131 528 4270