Director/PDMR Shareholding

Standard Life Euro Pri Eqty Tst PLC
28 June 2007



   NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL
                      RESPONSIBILITY OR CONNECTED PERSONS


     
1)   Name of company

     Standard Life European Private Equity Trust PLC


2)   State whether notification is in respect of a transaction notified in
     accordance with DR 3.1.4R(1)(a) or DR 3.1.4R(1)(b) or both

     DR 3.1.4R (1) (a)


3)   Name of director/person discharging managerial responsibility

     David Currie - Director of Standard Life Investments (Private Equity) 
     Limited which is the Manager of the Company


4)   State whether notification relates to a person(s) connected with a
     person discharging managerial responsibilities/director named in 3 above 
     and identify the connected person(s)

     N/A


5)   Indicate whether notification is in respect of a holding of the person
     named in 3 or 4 above or in respect of a non-beneficial interest

     As in 3


6)   Class of security

     Ordinary 0.2p shares


7)   State the nature of the transaction.

     Conversion of 672,567 Founder A shares into 672,567 Ordinary 0.2p shares


8)   Number of shares/amount of stock acquired

     672,567 Ordinary 0.2p shares


9)   Percentage of issued class acquired

     0.4%


10)  Number of shares/amount of stock disposed

     -


11)  Percentage of issued class disposed

     -


12)  Price per share

     99.9p (see section 15)


13)  Date of transaction

     29 June 2007 (see section 15)


14)  Total holding and percentage holding of issued class following this
     notification

     672,567 Ordinary shares, 0.4% of issued class.


15)  Other information

     In accordance with the articles of association, the Company received notice 
     from Mr Currie to convert 672,567 Founder A shares into new Ordinary shares 
     on 22 June 2007 at a conversion price of 100p per Ordinary share less the 
     amount already paid up on the Founder A share.  Application has been made 
     for the 672,567 new Ordinary shares resulting from the conversion to be 
     admitted to trading on the London Stock Exchange and to the Official List 
     of the UK Listing Authority.  It is expected that dealings will commence 
     and admission will become effective on 29 June 2007.  The new Ordinary 
     shares will rank pari passu in all respects with the existing Ordinary 
     shares and, following admission, there will be 159,822,567 Ordinary shares 
     in issue.


Name of contact and telephone number for queries

Valerie Mackenzie (Tel: [phone])


Date of Notification - 28 June 2007


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