Circ re. Notice of EGM

Standard Life Euro Pri Eqty Tst PLC
29 August 2007

                        SLEPET Circular  - Announcement



        Standard Life European Private Equity Trust PLC (the 'Company')

  Circular regarding the convening of an extraordinary general meeting of the
      Company to consider changes to the Company's articles of association

Introduction

The Company has today issued a circular to its shareholders (the 'Circular')
giving notice of an extraordinary general meeting of the Company which is to be
held on Monday, 24 September 2007 at 1.00pm at 1 George Street, Edinburgh EH2
2LL, at which Ordinary Shareholders will be asked to approve certain proposed
changes to the Company's articles of association.  In addition, it is a
technical requirement of the Articles that the proposed changes require to be
approved at a separate class meeting of Ordinary Shareholders and at a separate
class meeting of Founder Shareholders.  These Class Meetings will be held after
the EGM at the same venue.

Reasons for the proposed changes to the Articles

The need to update the Articles at this time arises from a proposed
reorganisation by Standard Life Investments ('SLI'), the parent of the Company's
manager, of its private equity investment management business.  The SLI
Reorganisation would involve a new entity being established within the Standard
Life Group to manage SLI's private equity investment funds, including the
Company. Your board supports this proposal by SLI, which would not involve any
change in the day-to-day management of your Company and its investments.
Further details of the SLI Reorganisation and of the changes which require to be
made to the Articles to facilitate this reorganisation are set out in the
Circular.

Separately, the new Companies Act 2006 is gradually being brought into force
over the course of this year and next.  The Board has decided that it would be
appropriate to take advantage of this opportunity to make certain additional
changes to the Articles in order to bring them into line with those provisions
of the 2006 Act which are now in force.  These proposed changes to the Articles
are also explained in the Circular.

Costs

As the principal reason for updating the Articles at this time is to facilitate
the SLI Reorganisation, the Standard Life Group has agreed to bear the costs of
obtaining shareholder approval to the proposed changes, including the Company's
reasonable advisers' fees.

Document

Copies of the Circular have been submitted to the UK Listing Authority, and will
shortly be available for inspection at the UK Listing Authority's Document
Viewing Facility, which is situated at:

Financial Services Authority
25 The North Colonnade
Canary Wharf
London
E14 5HS

Tel:  [phone]

Copies of the Circular will be available at the offices of Standard Life
Investments, 1 George Square, Edinburgh EH2 2LL until 24 September 2007.

Definitions

Capitalised words and expressions defined in the Circular have the same meanings
in this announcement.

29 August 2007



Enquiries:
Scott Dobbie (Chairman)                         Tel:  [phone]






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