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Lehman Brothers Private Equity (NBPE)

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Friday 16 May, 2008

Lehman Brothers Private Equity

Lehman Brothers Subsidiary Extends Share Tradin...

London, 16 May 2008  - Lehman Brothers,  the global investment  bank,
has announced that one of its subsidiaries, Lehman Brothers  Offshore
Partners Ltd.  ("Lehman Offshore"),  has  extended the  trading  plan
which  was  established  21  November  2007  (the  "Trading  Plan").
Pursuant to the Trading Plan, Lehman Offshore may make purchases  and
sales of  the  class  A  ordinary shares  (the  "Shares")  of  Lehman
Brothers Private Equity Partners  Limited ("LBPE" or the  "Company"),
the Euronext  Amsterdam listed,  closed-end  private equity  fund  of
funds investment company.  Shares will be acquired under the  Trading
Plan  by  Lehman  Offshore  for  investment  purposes  and  not   for
cancellation or discount  management purposes by  LBPE.  The  Trading
Plan was  scheduled to  expire  16 May  2008  and has  been  extended
through 14 November 2008.

Pursuant to the Trading Plan purchases and sales will be made
automatically on the Euronext Amsterdam Exchange at pre-determined
price levels, including during black-out periods applicable to
trading in the Shares by insiders of LBPE.  Purchases and sales under
the Trading Plan will be based on several factors, including the
market prices of the Shares (and their discount to net asset value),
as well as average trading volumes in the Shares.  The maximum net
number of Shares to be held by Lehman Offshore pursuant to the
purchases under the Trading Plan is not expected to exceed 2.2% of
the Company's total outstanding Shares.

Lehman Offshore extended the Trading Plan to continue to capture what
it believes to be significant value-creating opportunities by
purchasing Shares at attractive valuations.  Lehman Offshore and
Lehman Brothers Holdings Inc. are affiliates of the Company's
investment manager.

In connection with the initial public offering of LBPE, and as
previously announced, Lehman Offshore acquired 14.5 million Shares,
which are subject to a lock-up expiring on 18 July 2010. The Trading
Plan does not affect that investment and Shares subject to the
lock-up will not be sold pursuant to the Trading Plan. Lehman
Offshore reserves the right to purchase and sell Shares outside of
the Trading Plan, subject to compliance with applicable law and
LBPE's policies regarding transactions in the Shares.

For further information, please contact:

Financial Dynamics    +44 20 7269 7114
Rob Bailhache
Nick Henderson

About Lehman Brothers Private Equity
Lehman Brothers' global Private Equity business, founded in 1984,
currently oversees
approximately $32 billion across 37 different fund strategies and six
asset classes: Merchant
Banking, Venture Capital, Real Estate, Credit, Infrastructure, and
Fund Related Investments
which includes fund of private equity funds, fund of hedge funds, and
the Manager Access

About Lehman Brothers
Lehman Brothers, an innovator in global finance, serves the financial
needs of corporations, governments and municipalities, institutional
clients, and high net worth individuals worldwide. Founded in 1850,
Lehman Brothers maintains leadership positions in equity and fixed
income sales, trading and research, investment banking, private
investment management, asset management and private equity. The Firm
is headquartered in New York, with regional headquarters in London
and Tokyo, and operates in a network of offices around the world. For
further information about Lehman Brothers' services, products and
recruitment opportunities, visit

This press release appears as a matter of record only and does not
constitute an offer to sell or a solicitation of an offer to purchase
any security.