Portfolio Update

Bear Stearns Private Equity Limited
03 July 2007

Company            Bear Stearns Private Equity Limited

Headline           Ten Largest Investments

Bear Stearns Private Equity Limited

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

3 July, 2007

Regulatory News Service

London Stock Exchange

London

EC4M 7LS

Dear Sir,



BEAR STEARNS PRIVATE EQUITY LIMITED

Please find detailed below the ten largest investments at 30 June 2007.


Investment                                                                            % of net assets
BoS Mezzanine Partners Fund, L.P.*                                                         8.49%
PEAF II, Ltd.**                                                                            3.62%
Alto I/ Development Capital                                                                3.16%
Omega Fund III, G.P. Limited                                                               2.76%
Esprit Capital I Fund                                                                      1.64%
SCAN Geophysical AS                                                                        1.53%
Avista Capital Partners, L.P.                                                              1.44%
Argan Capital Fund                                                                         1.39%
OCM European Principal Opportunities Fund LP                                               1.25%
Starwood Opportunity Fund VI, LP                                                           1.21%



* Comprised of 8 underlying private equity fund interests.

** Comprised of 12 underlying private equity fund interests

END


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