Changes to board of manager

Standard Life Euro Pri Eqty Tst PLC
18 December 2006



Standard Life European Private Equity Trust, PLC


Standard Life European Private Equity Trust PLC ('SLEPET') has been advised of
the resignation of Mr Jonny Maxwell, Chief Executive of its Manager, Standard
Life Investments (Private Equity) Limited ('The Manager').


The Manager's investment management process will in future be led by David
Currie and Peter McKellar the two executives primarily responsible for SLEPET's
strong performance in the period since its flotation in 2001.  Thus the Board of
SLEPET is fully confident that there will be no change in the relationship
between the Company and the Manager as a result of Mr Maxwell's resignation.



For Standard Life European Private Equity Trust PLC

Edinburgh Fund Managers plc, SECRETARY



END


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