Result of EGM, Tender Offer and Placing

17 June 2011

Aberdeen Private Equity Fund Limited

Announcement of result of Extraordinary General Meeting and

Tender Offer and Placing

The Board of Aberdeen Private Equity Fund Limited announces that the special resolution proposed at the Extraordinary General Meeting of the Company held in Guernsey earlier today was duly approved.

The Tender Offer for the purchase of Shares at 67.5p pence per Share closed at 1.00 p.m. on 15 June 2011. A total of 41,691,918 Shares were validly tendered and tender applications will be satisfied in full.

In accordance with its commitment, the Company is repurchasing 17 million Shares for cancellation. The remaining 24,691,918 Shares have been successfully placed by Matrix Corporate Capital LLP with third party investors.

The cancellation of the repurchased shares will result in an uplift to net asset value per share of 3p. Following implementation of the Tender Offer, the Company will have 108,313,199 Shares in issue. Therefore, the total number of voting rights in the Company is 108,313,199 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.

It is expected that the proceeds of the Tender Offer will be paid to Shareholders who validly tendered Shares during the week commencing 20 June 2011.

Terms used and not defined in this announcement bear the same meaning given to them in the Circular dated 25 May 2011. Copies of the special resolution and of the new Articles of Incorporation adopted by the Company at the Extraordinary General Meeting have been submitted to the National Storage Mechanism and will shortly be available for inspection at: http://www.Hemscott.com/nsm.do.

Jonathan Carr, Chairman of the Company, commented:

"We are delighted that the Tender Offer has been successful in providing an exit from the Company for those shareholders who so wished and that all of the tendered shares available for third party investors have been successfully placed. We are pleased to welcome a number of new shareholders to the Company."

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Contacts for enquiriesMaitland 020 7379 5151Neil Bennett/Tom Eckersley

Matrix Corporate Capital LLP 020 3206 7000Paul Fincham/Rob Naylor