Statement re. Press Comment

Bear Stearns Private Equity Limited
27 June 2007

Company            Bear Stearns Private Equity Limited
Headline           To Shareholders from BSAM Inc. & BSAM Ltd. (the Managers)

Bear Stearns Private Equity Limited

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

27 June 2007

Regulatory News Service
London Stock Exchange
London
EC4M 7LS

Dear Shareholders,

BEAR STEARNS PRIVATE EQUITY LIMITED ('BSPEL')

Recently we have received a number of inquiries from Shareholders regarding
various media reports involving two hedge funds managed by an investment team
within Bear Stearns Asset Management that invest in asset-backed securities,
with exposure to the sub-prime mortgage market.  We would like to assure
Shareholders that Bear Stearns Private Equity Limited is not invested in these
hedge funds and is managed and administered by a separate investment team.

We would like to emphasize the following key points:

•         BSPEL is well capitalized.  BSPEL is capitalized with $490 million in
equity securities and has no debt.  Moreover, after having successfully
concluded a share capital raise at the end of April, BSPEL has no cash flow
issues as approximately half of its investment capital is in cash or cash
equivalents awaiting investment.

•         BSPEL is well diversified.  BSPEL's private equity assets are
distributed across approximately 900 private companies managed by over 60
private equity managers around the world. These 900 companies are diversified
globally and by investment strategy, size, vintage year and manager.  Currently
the majority of assets are invested in Europe.

•         BSPEL has no sub-prime exposure. BSPEL has no direct exposure to the
US sub-prime mortgage market and to its knowledge, its private equity holdings
have no indirect exposure to this market.

•         No investments in Bear Stearns funds. BSPEL is not invested in any
other product managed by Bear Stearns, including hedge funds and private equity
funds, other than money market instruments.  BSPEL is managed by a dedicated
team within Bear Stearns Asset Management and is controlled by a majority
independent board of Directors.

•         No shareholder control.  Bear Stearns Asset Management and its related
entities own 12,571,430 million Equity Shares of BSPEL, which comprise 3.8 per
cent of the total NAV as at 31 May 2007.   Bear Stearns Asset Management has no
special rights or standing that differ from any other investor in BSPEL.

•         Bear Stearns' franchise is sound.  Since its founding in 1923, Bear
Stearns has weathered many market ups and downs, the current situation included.
  The Company remains proud of its history of more than 80 years of
profitability and the franchise is sound.  For the first six months of 2007 the
Company reported record revenues.  By last Friday (22 June 2007), all of the
major rating agencies reaffirmed their positive ratings on the firm.

We also would like to update our Shareholders on recent activities more specific
to BSPEL.  Since the quarter ending 31 March 2007 (and the announcement of its
fundraising effort on 27 April 2007), BSPEL has enjoyed significant success in
deploying capital to private equity transactions.

Some highlights of our activities in the past several weeks since 31 March 2007
include:

•         Rapidly deploying capital.  BSPEL has committed to (or is in the
process of) closing investments in 12 funds and one co-investment resulting in
total capital commitments of $138 million and has currently invested capital in
an amount equal to $73 million.

•         Robust pipeline. BSPEL continues to have a robust pipeline of
secondary and co-investment opportunities and expects the pace of investing to
continue to be strong in the coming weeks and months.

•         Continued reliance on secondaries.  Nine of the 12 funds purchased
this quarter represent secondary transactions and 2 of the three remaining funds
were classified as 'funded primary investments' with greater than 30% of total
commitments called at the time of investment.  Only one of the funds was a pure
primary commitment; this particular investment was tied to an earlier secondary
transaction with the same manager, and represented a commitment of approximately
€2 million, or approximately 2% of total commitments made this quarter.

•         First Asian co-investment.  The co-investment was made in a
significant Japanese company and represents BSPEL's first direct investment in
Asia.

•         Investment focus outside US.  Eleven of the 12 fund investments and
the single co-investment are non-U.S. investments.  The vast majority of the
assets are invested in Europe.  BSPEL's private equity portfolio now has
approximately 55 percent exposure to Europe, with approximately 30 percent
invested in the U.S.

BSPEL's investment strategy and risk profile remain unchanged.  We continue to
focus on investing with high-quality fund managers throughout world, with an
emphasis on purchasing secondary interests in funds and making selective
co-investments.  In addition, BSPEL continues to emphasize diversification in
order to minimize the risk associated with over concentration in any individual
fund or investment vehicle.



Enquiries:



Gregory Getschow, Troy Duncan - Bear Stearns Asset Management - [phone]





END


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