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 Edmond Warner

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 share

7) Name of the registered shareholder(s) and, if more than one holder, the number of shares held by each of them (if notified)

n/a

8) State the nature of the transaction.

Acquisition 9) Number of shares/amount of stock acquired

25,000 Ordinary 0.2p shares

10) Percentage of issued class acquired

0.016% 11) Number of shares/amount of stock disposed - 12) Percentage of issued class disposed -

13) Price per share 100.4p (see section 15)

14) Date of transaction 29 January 2010 (see section 15)

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

25,000 Ordinary shares, 0.016% of issued class.

16) Date of Notification

1 February 2010

Name of contact and telephone number for queries Valerie Mackenzie (Tel: 0131 528 4136)

Name and signature of authorised company official responsible for making this notification

VALERIE MACKENZIE

Date of Notification - 1/2/2010