Issue of Equity

Bear Stearns Private Equity Limited
27 April 2007



BEAR STEARNS PRIVATE EQUITY LIMITED

HSBC Private Bank Building, Rue du Pre, St Peter Port, Guernsey GY1 1LU

27 April 2007

NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA

BEAR STEARNS PRIVATE EQUITY LIMITED - FURTHER ISSUE OF SHARES


The Board of Bear Stearns Private Equity Limited (the 'Company') is pleased to
announce that 201,867,774 New Equity Shares have today been allotted pursuant to
the Placing announced on 17 April 2007 raising approximately $ 308.86 million of
new monies (before expenses).

'We are pleased with the results of this follow-on offering both in terms of its
size and its broad acceptance,' said Company Chairman Trevor Ash. 'The issue has
allowed the Company to broaden its investor base further including pension
funds, private wealth management groups, and discretionary asset managers.
Subscriptions came from investors in the UK, Europe, the Middle East, and Asia.
The Company now has aggregate assets in excess of $ 495 million.'

Following the issue of the New Shares, the number of Equity Shares in issue is
290,026,246. Application has been made for these New Shares to be admitted to
the Official List and to trading on the London Stock Exchange with effect from
8.00 am on 2 May 2007.

Greg Getschow, Senior Managing Director of Bear Stearns Asset Management Inc.
said 'This is the third fund raise which is in line with the company's strategy
to reduce or eliminate the standard back-ended returns of private equity (the
J-curve) by a) investing in secondaries and b) only raising new money when we
can invest it ('just-in-time financing.').  In this case we have already
identified a strong pipeline of investments and so will be able to put the money
to work very quickly thus avoiding cash drag.'

Bear, Stearns International Limited; HSBC Private Bank (UK) Limited; HSBC
Private Bank (Suisse) SA (acting through its registered office and its branches
in Hong Kong and Singapore); The Hongkong and Shanghai Banking Corporation
Limited; JPMorgan Cazenove and Migdal Hitum Ve'Kidum Asakim Ltd acted as placing
agents in respect of the New Equity Shares.  JPMorgan Cazenove acted as sponsor.


Enquiries

Bear Stearns Asset Management

Greg Getschow / Troy Duncan - 001 212 272 7732

HSBC entities

Boudewijn Jansen / Marina Gerova - 020 7860 5277

JPMorgan Cazenove

Angus Gordon Lennox - 020 7588 2828

Peregrine Communications

Anthony Payne / Max Hilton - 020 7978 6052

THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM PART OF AN OFFER TO SELL,
PURCHASE, EXCHANGE OR SUBSCRIBE FOR ANY SECURITIES OR SOLICITATION OF SUCH AN
OFFER IN THE UNITED STATES OF AMERICA OR ANY OTHER JURISDICTION. BEAR STEARNS
PRIVATE EQUITY LIMITED HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED
STATES INVESTMENT COMPANY ACT OF 1940, AS AMENDED. THE SECURITIES REFERRED TO IN
THIS ANNOUNCEMENT HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED, AND WILL NOT BE OFFERED OR SOLD OR
OTHERWISE TRANSFERRED WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR
BENEFIT OF, US PERSONS EXCEPT IN ACCORDANCE WITH THE UNITED STATES SECURITIES
ACT OF 1933, AS AMENDED, OR AN EXEMPTION THEREFROM AND UNDER CIRCUMSTANCES WHICH
WILL NOT REQUIRE BEAR STEARNS PRIVATE EQUITY LIMITED TO REGISTER UNDER THE
UNITED STATES INVESTMENT COMPANY ACT OF 1940, AS AMENDED.

JPMorgan Cazenove Limited, which is authorised and regulated in the United
Kingdom by the Financial Services Authority, is acting for Bear Stearns Private
Equity Limited and for no one else in connection with the matters referred to in
this announcement and will not be responsible to anyone other than Bear Stearns
Private Equity Limited for providing the protections afforded to clients of
JPMorgan Cazenove Limited or for affording advice in relation to the contents of
this announcement or on any matters referred to herein.

END




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