Redemption Facility

Bear Stearns Private Equity Limited
04 April 2006

Company     Bear Stearns Private Equity Limited

Headline     Redemption of Shares

Bear Stearns Private Equity Limited

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

04th April 2006

Regulatory News Service

London Stock Exchange

London

EC4M 7LS

Dear Sir,

NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA.


Notice to the London Stock Exchange regarding redemption of shares in Bear
Stearns Private Equity Limited


Shareholders will be aware that the Directors of Bear Stearns Private Equity
Limited (the 'Company') have discretion to offer semi-annual limited redemption
of shares (the 'Redemption Facility') at prevailing Net Asset Value ('NAV'). The
Directors have determined that the Company will not offer the Redemption
Facility to shareholders for the period ending 30 June 2006.


In reaching this decision, the Directors noted that:


 1. trading in the Company's shares has been active and consistently at a premium
    to NAV;

 2. it is not considered currently in shareholder interests to redeem shares at
    NAV when shares could be realized at a higher market price;

 3. recent new capital has been raised for the Company through a secondary share
    issue as was indicated in the 7 February 2006 announcement; and

 4. in the Directors' opinion, the quality and diversification evident in the
    Company's portfolio, as well as the new investment capital, means that it is
    well positioned to facilitate growth in NAV.


Shareholders should not infer that this determination by the Company's Directors
in any way implies that in future the Directors either will or will not use
their discretion to offer the Redemption Facility to shareholders. At each
semi-annual period, the Directors will take into account the then prevailing
circumstances.






Enquires:

Bear Stearns Private Equity Limited
Paul Sanabria - 001 212 272 7734
Greg Getschow - 001 212 272 7732

THE COMPANY HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE INVESTMENT COMPANY
ACT. EACH INVESTOR WHO IS A US PERSON MUST QUALIFY AS A 'QUALIFIED PURCHASER'
WITHIN THE MEANING OF SECTION 3(C)(7) OF THE INVESTMENT COMPANY ACT IN ADDITION,
THE SHARES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT.
CONSEQUENTLY, THE SHARES MAY 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 SECURITIES ACT OR AN EXEMPTION THEREFROM AND UNDER
CIRCUMSTANCES WHICH WILL NOT REQUIRE THE COMPANY TO REGISTER UNDER THE
INVESTMENT COMPANY ACT.

Notes:

BEAR STEARNS PRIVATE EQUITY LIMITED

Bear Stearns Private Equity Limited ('BSPEL' or the 'Company') is a
London-quoted, Guernsey-registered, closed-end investment company which
primarily uses a fund-of-funds approach to gain exposure to the private equity
asset class.


The Company invests in private equity funds by acquiring limited partnership
interests in the secondary market and making commitments to newly formed private
equity funds. In addition, BSPEL makes direct investments in individual
companies by co-investing with individual private equity sponsors. The Company
diversifies its investments by manager, industry, geography, asset class, stage
and vintage year.


The Company employs an enhanced cash management strategy for capital awaiting
investment in private equity assets, which may include investments in fixed
income instruments, money market accounts, bank deposits, bank loans, hedge
fund-of-funds and other instruments.


The Company's capital structure consists of two classes of shares: Ordinary
Shares and Zero Dividend Preference Shares ('ZDP Shares'). The Company aims to
provide Equity shareholders with geared exposure to a private equity fund
portfolio and to provide ZDP shareholders with a predetermined final capital
entitlement (although not guaranteed).

END


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