Transaction in Own Shares

Aberdeen Private Equity Fund Limited

Transaction in own shares

Aberdeen Private Equity Fund Limited (the "Company") announces that on 2 December 2010 it purchased for cancellation 100,000 sterling shares of no par value at a price per share of 68.58 pence.

The purchase and cancellation will reduce the total number of sterling shares in issue to 131,497,736. The Company holds no shares in Treasury.

Accordingly, the total number of voting rights in the Company is now 131,497,736 and this figure may be used by shareholders as a denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FSA's Disclosure and Transparency Rules.

RBC Offshore Fund Managers Limited

Company Secretary