Transaction in Own Shares

Aberdeen Private Equity Fund Limited

Transaction in own shares

Aberdeen Private Equity Fund Limited (the "Company") announces that on 8 March 2011 it purchased for cancellation 135,000 sterling shares of no par value at a price per share of 69.5 pence.

The purchase and cancellation will reduce the total number of sterling shares in issue to 125,811,876. The Company holds no shares in Treasury.

Accordingly, the total number of voting rights in the Company is now 125,811,876 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