Compliance with Model Code

1 April 2011

Aberdeen Private Equity Fund Limited (the "Company")

The Company announces that it is satisfied, by virtue of the points listed below, that all inside information which the Directors and the Company may have in the period leading up to the Annual Financial Report Announcement, has been, and will be, notified to a Regulated Information Service ("RIS") and that the Company is thereby exempted from the provisions of the Model Code in relation to closed periods for any dealings by persons discharging managerial responsibilities in the Company and any purchases by the Company of its own securities.

In so stating the Company has regard to;

1) the announcement on 21 March 2011 of the unaudited Net Asset Values per share as of the close of business on 28 February 2011;

2) the Company's practice of calculating Net Asset Values per share on a monthly basis and the announcement of these Net Asset Values to an RIS; and

3) there being no other unpublished information which constitutes price sensitive information in respect of the Company's securities;

This announcement is issued pursuant to paragraph 15.5.1 of the FSA Listing Rules.