Restructure Proposals

Bear Stearns Private Equity Limited
08 December 2006




Bear Stearns Private Equity Limited (the 'Company')

8 December 2006


Board Announces Consideration of Reconstruction proposals


The Board have reviewed the Company's growth plans for 2007 and beyond and have
concluded that it is in the best interests of the Company to convert from a
split capital structure to a conventional structure with a single class of
share.

The Board is considering a reorganisation proposal that will achieve this end by
replacing the Zero Dividend Preference Shares in issue with listed Asset Linked
Notes on a one for one basis.  Where practicable, the rights of the ZDP Shares
will be maintained as closely as possible within the terms and conditions of the
Asset Linked Notes.  The proposals will also involve an amendment to the
Company's existing borrowing policy and over-commitment strategy that will help
to mitigate cash drag on the Company's investment returns.

Documents will be despatched to shareholders, following regulatory approval,
expected to be in the week commencing 11 December 2006.  The Company expects to
convene shareholder meetings to approve the proposals in mid January 2007.



Enquiries

Greg Getschow, Troy Duncan - Bear Stearns Asset Management - 020 7659 5100

Angus Gordon Lennox - JPMorgan Cazenove - 020 7588 2828

Paul Wrench - HSBC Administration Services - 01481 709 581





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