Transaction in Own Shares

10 May 2012

Aberdeen Private Equity Fund Limited

Transaction in own shares

Aberdeen Private Equity Fund Limited (the "Company") announces that, on 10 May 2012, it purchased for cancellation 20,000 sterling shares of no par value at a price per share of 59 pence.

The purchase and cancellation will reduce the total number of sterling shares in issue to 109,203,199. The Company holds no shares in Treasury.

Accordingly, the total number of voting rights in the Company is now 109,203,199 and this figure may be used by shareholders as a 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 FSA's Disclosure and Transparency Rules.

Enquiries:

Company Secretary and Administrator

Ipes (Guernsey) Limited

John Ellman-Brown

01481 713843