Holding in Company

Standard Life Euro Pri Eqty Tst PLC
7 June 2001


                                 SCHEDULE 10

                  NOTIFICATION OF MAJOR INTERESTS IN SHARES

 1. Name of company:

Standard Life European Private Equity Trust PLC



2) Name of shareholder having a major interest
      Merchant Investors Assurance Company Limited


3) Please state whether notification indicates that it is in respect of
holding of the shareholder named in 2 above or in respect of a
non-beneficial interest or in the case of an individual holder if it is a
holding of that person's spouse or children under the age of 18
      Notification relates to 2 above


4) Name of the registered holder(s) and, if more than one holder, the
number of shares held by each of them
      The Bank of New York (Nominees) Ltd


5) Number of shares/amount of stock acquired
      5,600,000 ordinary shares


6) Percentage of issued class
      3.5%


7) Number of shares/amount of stock disposed
      n/a


8) Percentage of issued class
      n/a



9) Class of security
      Ordinary


10) Date of transaction
      not disclosed


11) Date company informed
      7 June 2001


12) Total holding following this notification
      5,600,000



13) Total percentage holding of issued class following this notification
      3.5%


14) Any additional information
      None


15) Name of contact and telephone number for queries
      Lynn Mathewson (Tel [phone])


16) Name and signature of authorised company official responsible for
making this notification

      Lynn Mathewson
Date of notification 7 June 2001