Director/PDMR Shareholding

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS

1) Name of company

Standard Life European Private Equity Trust PLC

2) State whether notification is in respect of a transaction notified in accordance with DR 3.1.4R(1)(a) or DR 3.1.4R(1)(b) or both

DR 3.1.4R (1) (a)

3) Name of director/person discharging managerial responsibility

David Currie - Partner of SL Capital Partners LLP which is the Manager of the Company

4) State whether notification relates to a person(s) connected with a person discharging managerial responsibilities/director named in 3 above and identify the connected person(s)

N/A

5) Indicate whether notification is in respect of a holding of the person named in 3 or 4 above or in respect of a non-beneficial interest

As in 3

6) Class of security

Ordinary 0.2p shares

7) State the nature of the transaction.

Purchase of shares resulting from dividend re-investment.

8) Number of shares/amount of stock acquired

93 Ordinary 0.2p shares

9) Percentage of issued class acquired

0.00006%

10) Number of shares/amount of stock disposed

-

11) Percentage of issued class disposed

-

12) Price per share

Not available

13) Date of transaction

5 February 2010

14) Total holding and percentage holding of issued class following this notification

973,480 Ordinary shares, 0.6% of issued class. This total holding also takes account of a dividend re-investment in January 2009 and corrects previous disclosures.

Name of contact and telephone number for queries

Valerie Mackenzie (Tel: 0131 528 4136)

Date of Notification - 9 February 2010