Portfolio Update

Bear Stearns Private Equity Limited
03 October 2006

                    
Company    Bear Stearns Private Equity Limited

Headline   Ten Largest Investments


Bear Stearns Private Equity Limited

HSBC Private Bank Building, Rue du Pre, St Peter Port, Guernsey GY1 1LU

3 October, 2006

Regulatory News Service
London Stock Exchange
London
EC4M 7LS
Dear Sir,



BEAR STEARNS PRIVATE EQUITY LIMITED

Please find detailed below the ten largest investments.


Investment                                                                            % of net assets
PEAF II LLC                                                                                11.35%
Starwood Opportunity Fund VI, L.P.                                                         3.83%
Participation Agreement - Providence Equity Partners IV, LP                                3.48%
Blackstone Capital Partners IV, LP                                                         3.45%
Thomas H Lee Fund V, L.P.                                                                  3.15%
Warburg Pincus Private Equity VIII, L.P.                                                   3.12%
Quadrangle Capital Partners LP                                                             2.99%
Apollo Investment Fund V, L.P.                                                             2.52%
OCM European Principal Opportunities Fund LP                                               2.36%
SCAN Geophysical AS                                                                        2.35%

* Comprised of 12 underlying private equity fund interests.

END


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