Issue of Equity

Aberdeen Private Equity Fund Limited (the "Company")

Acquisition of certain limited partnership interests and issue of equity

The Board of Directors is pleased to announce that the Company has acquired a limited partnership interest in Longreach Capital Partners Ireland 1 L.P. for an undisclosed amount. The consideration is to be satisfied by a cash payment and the issue of 1,100,000 new participating shares of nil par value each (the "New Shares").

Longreach Capital Partners Ireland 1 L.P. is a near fully-drawn limited partnership registered in Ireland which has invested the majority of its capital across North East Asia.

Application is now being made for the New Shares to be admitted to the premium segment of the Official List of the UK Listing Authority and to trading on the London Stock Exchange's main market for listed securities, and dealings are expected to commence on or around 29 March 2012.

Following this issue of shares, the total number of ordinary shares in issue is 109,383,199. Therefore, the total number of voting rights in the Company is 109,383,199 and this figure may be used by shareholders as the 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 Disclosure and Transparency Rules.

Enquiries:

Company Secretary and Administrator

Ipes (Guernsey) Limited

John Ellman-Brown

01481 713843