Notification of Transactions of Directors

Aberdeen Private Equity Fund Limited

22 October 2010

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL

RESPONSIBILITY OR CONNECTED PERSONS

1) Name of company

Aberdeen Private Equity Fund Limited

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

DR 3.1.4R(1)(a)

3) Name of director

David Copperwaite

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

Sterling ordinary shares

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

As in 3

8) State the nature of the transaction.

Disposal

9) Number of shares/amount of stock acquired

N/a

10) Percentage of issued class acquired

N/a

11) Number of shares/amount of stock disposed

2,000 Sterling ordinary shares

12) Percentage of issued class disposed

0.0015%

13) Price per share

67.22p

14) Date of transaction

22 October 2010

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

Zero.

16) Date company informed

22 October 2010

17) Other Information

N/a

Name of contact and telephone number for queries

Robin Amer, +44 (0) 1481 744130

Name and signature of authorised company official responsible for making this

notification

Robin Amer

Date of Notification - 22 October 2010