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Lehman Brothers Private Equity (NBPE)

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Friday 13 March, 2009

Lehman Brothers Private Equity

Lehman Brothers Private Equity Partners Announc...





13 March 2009

Lehman Brothers Private Equity Partners Limited ("LBPE" or "the
Company"), a closed-end private equity fund of funds investment
company, today announced the selection of a new name - NB Private
Equity Partners Limited - and the execution of a new lock-up
agreement for the shares owned by a Lehman Brothers affiliate.

Name Change to NB Private Equity Partners Limited

LBPE is pleased to announce that the Company's Board of Directors
approved the selection of a new company name - NB Private Equity
Partners Limited. The new name of the Company will reflect the name
of the Investment Manager, NB Alternatives Advisers LLC, following
the sale of the Investment Manager to Neuberger Berman Group LLC. In
addition, the Company has reserved "NBPE" as the new ticker symbol on
Euronext Amsterdam and www.nbprivateequitypartners.com as the new Web
site address.

Initial filings have been made with regulatory authorities, and the
name and ticker symbol changes for LBPE are expected to be completed
in approximately two weeks. A press release will be issued to notify
the public when these changes are complete and the shares begin
trading under "NBPE." In the meantime, the Company will continue to
operate as Lehman Brothers Private Equity Partners Limited and its
shares will continue to trade under the symbol "LBPE." The Company
will continue to utilize its current Web site, www.lbpe.com, until
the new Web site is launched.

New Lock-up Agreement with Largest Shareholder

The Company has executed a new lock-up agreement with respect to the
approximately 14.5 million shares of LBPE which were purchased by
Lehman Brothers in the initial public offering in July 2007. In
connection with the initial public offering, the shares were subject
to a lock-up agreement due to expire on 18 July 2010.

Under the terms of the new agreement, the shares continue to be
locked-up until 18 July 2010, after which the Investment Manager
agreed, for a period of 18 months following the lock-up expiration,
to use all reasonable efforts to assist Lehman Brothers in selling
its shares in up to three marketed secondary transactions.


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 NB Alternatives group of Neuberger
Berman.

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.

LBPE is established as a closed-end investment company domiciled in
Guernsey. LBPE has received the necessary consent of the Guernsey
Financial Services Commission and the State of Guernsey Policy
Counsel. LBPE is registered with the Dutch Authority for the
Financial Markets as a collective investment scheme which may offer
participations in The Netherlands pursuant to article 2:66 of the
Financial Markets Supervision Act (Wet op het financial toezicht).
All investments are subject to risk. Past performance is no guarantee
of future returns. Prospective investors are advised to seek expert
legal, financial, tax and other professional advice before making any
investment decision. The value of investments may fluctuate. Results
achieved in the past are no guarantee of future results. This
document is not intended to constitute legal, tax or accounting
advice or investment recommendations. Prospective investors are
advised to seek expert legal, financial, tax and other professional
advice before making any investment decision. Statements contained in
this document that are not historical facts are based on current
expectations, estimates, projections, opinions and beliefs of LBPE's
investment manager. Such statements involve known and unknown risks,
uncertainties and other factors, and undue reliance should not be
placed thereon. Additionally, this document contains "forward-looking
statements." Actual events or results or the actual performance of
LBPE may differ materially from those reflected or contemplated in
such targets or forward-looking statements.


This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.