Issue of Equity

STANDARD LIFE EUROPEAN PRIVATE EQUITY TRUST PLC ('SLEPET')

ISSUE OF NEW ORDINARY SHARES FOLLOWING ELECTION FOR SCRIP DIVIDEND

Application has been made to the UK Listing Authority and the London Stock Exchange Plc for 881,969 Ordinary shares of 0.2p each ("Shares") to be admitted to the Official List.

It is expected that permission to admit the shares will be granted on 1 February 2012 and that admission is effective from 2 February 2012.

These shares are being issued as a result of elections received pursuant to the Scrip Dividend Offer in respect of the 2011 final dividend.

These shares will rank pari passu with the existing issued Ordinary shares. The resulting issued ordinary share capital will be 162,378,566 ordinary 0.2p shares.

For Standard Life European Private Equity Trust PLC

Aberdeen Asset Management PLC, SECRETARY

1 February 2012