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Lehman Brothers Private Equity (NBPE)

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Thursday 09 October, 2008

Lehman Brothers Private Equity

Lehman Brothers Private Equity Partners Limited...





9 October 2008

Lehman Brothers Private Equity Partners Limited ("LBPE" or "the
Company") today
announced the release of its September 2008 Monthly Report and
preliminary financial
results for the quarter ending 30 September 2008.

As of 30 September 2008, the unaudited NAV per share was $10.55. This
represents a
decrease of 2.4% compared to the unaudited 31 August 2008 NAV per
share of $10.81 and
an increase of 1.7% compared to the audited 31 December 2007 NAV per
share of $10.37.

During September, LBPE's portfolio value decreased mainly as a result
of the severe
downward pressure facing the public equity and credit markets. In
addition to negative markto-
market adjustments on publicly traded securities and credit-related
fund investments, the
portfolio experienced unrealized depreciation due to negative foreign
exchange adjustments.

These decreases in value were offset by a small net increase in the
value of certain fund
investments.

LBPE will host a conference call for investors and analysts to
discuss the Company's
performance. The call will be held at 15.00 CET / 14.00 BST / 9.00am
EDT on Thursday,
9th October 2008. The call can be accessed by dialing +1-866-238-1665
(U.S.) or +1-703-
639-1164 (International) with the access code 1292646. Please ask for
"the LBPE conference
call."

A playback facility will be available two hours after the conference
call. This facility can be
accessed by dialing +1-888-258-7854 (U.S.) or +1-703-925-2490
(International). The code
to access the recording is 1292646.

The September 2008 Monthly Report and the investor presentation in
connection with
today's conference call are available on the Company's Web site at
www.lbpe.com. This
announcement should be read in conjunction with the September 2008
Monthly Report.

LBPE expects to issue its interim report and financial statements for
the quarter ended 30
September 2008 during early November. The Company is required to
consider, and will
consider, all known material information in preparing such financial
statements, including
information that may become known subsequent to the issuance of this
monthly NAV update.

Accordingly, amounts included in the financial statements may differ
from the amounts
published in the monthly report.

LBPE also expects to provide regular NAV updates for the months
ending 31 October 2008
and 30 November 2008 within seven business days of each month's end.

For further information, please contact:

LBPE Investor Relations +1 214 647 9593

Financial Dynamics +44 20 7269 7114
Rob Bailhache
Nick Henderson

About Lehman Brothers Private Equity Partners
LBPE is a closed-end private equity fund of funds investment company
listed on Euronext
Amsterdam on 25 July 2007, raising a total of $542.1 million. LBPE
holds a diversified
portfolio of private equity fund investments and certain direct
co-investments, diversified
across private equity asset class, geography, industry, vintage year
and sponsor, selected by
the Investment Manager.