Update Re: Issue of Equity

Bear Stearns Private Equity Limited
03 April 2008


Bear Stearns Private Equity Limited
3 April 2008

Bear Stearns Private Equity Limited
St Martin's House, Le Bordage,  St Peter Port, Guernsey, GY1 4AU

Regulatory News Service
London Stock Exchange
London
EC2N 1HP

Bear Stearns Private Equity Limited (the 'Company')

The Board of directors announces that the Company's formal fundraising announced
on 11 March 2008 will be postponed pending the completion of JPMorgan Chase &
Co.'s (NYSE: JPM) acquisition of The Bear Stearns Companies Inc. (NYSE: BSC). 
This postponement will enable the Company to pursue certain current Board
considerations, including a number of potential options relating to future
fundraisings, including the possible introduction of further share classes to
those already in issue.  Moreover, the Company and the Board will seek approval
from shareholders to change the Company's name prior to recommencing the formal
offering.

In the interim, in order to satisfy immediate share demand, the Board has
authorized the re-issuance of shares currently held in treasury by the Company. 
Accordingly, the Board intends to issue approximately US$30 million of treasury
shares at a premium to the 29 February 2008 net asset value within the next few
days.

Furthermore, the Board has once again approved the offering of the Company's bi-
annual tender facility to shareholders on record as of close of business (London
time) on 30 April 2008.  A notice regarding the tender facility will be posted
to shareholders shortly.

About Bear Stearns Private Equity Limited

Bear Stearns Private Equity Limited is a Guernsey registered and incorporated,
London Stock Exchange-listed, closed-ended investment company (LSE:BPLE)
designed primarily to invest in the global private equity market.  The
investment objective of the Company is to achieve both short and long-term
capital appreciation by investing in a well diversified portfolio of private
equity fund interests and by capitalising on the inefficiencies of the secondary
private equity market.  As at 31 December 2007, the Company's investment
portfolio consisted of 81 separate fund investments with exposure to over 1,000
companies in 30 different countries across Europe. Asia and North America.


Further information about the acquisition of The Bear Stearns Companies Inc. by
JPMorgan Chase & Co. can be found at www.jpmorganchase.com

ENQUIRIES:


HSBC Management (Guernsey) Ltd
+ 44 (0) 1481 759 000

Anthony Payne, Peregrine Communications
Tel: [phone]
Mobile: [phone]
[e-mail]

Paul Mungo, Peregrine Communications
Tel: [phone]
Mobile: [phone]
[e-mail]

End.


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