Restatement of objective & dividend announcement

To: RNS

Date: 22 August 2012

From: F&C Private Equity Trust plc

Restatement of objective and announcement of first dividend payment

Following the recent approval by shareholders of a new dividend policy, the Company announces a restatement of its investment objective, in respect of the Ordinary Shares, as follows:

"To achieve long-term capital growth through investment in private equity assets, whilst providing shareholders with a predictable and above average level of dividend funded from a combination of the Company's revenue and realised capital profits."

In accordance with the new dividend policy, the Board declares an interim dividend of 4.96p per Ordinary Share, payable on 2 November 2012 to shareholders on the register on 5 October 2012. For illustrative purposes only, this represents an annualised dividend yield of 6.4 per cent based on the Ordinary Share price as at 30 June 2012.

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