Issue of Equity

To: RNS

From: Standard Life European Private Equity Trust PLC

Date: 29 January 2013

Standard Life European Private Equity Trust PLC

ISSUE OF NEW ORDINARY SHARES FOLLOWING ELECTIONS FOR SCRIP DIVIDEND

Application has been made to the UK Listing Authority and the London Stock Exchange Plc for 1,171,747 Ordinary shares of 0.2p each ("Shares") to be admitted to the Official List.

It is expected that permission to admit the shares will be granted on 31 January 2013 and that dealings will commence on 1 February 2013.

These shares are being issued as a result of elections received pursuant to the Scrip Dividend Offer in respect of the 2012 final dividend.

These shares will rank pari passu with the existing issued Ordinary shares and following admission, there will be 163,539,702 Ordinary shares in issue.

For Standard Life European Private Equity Trust PLC

Personal Assets Trust Administration Company Limited, SECRETARY

Enquiries: 0131 538 6603