Share Buy-Back

Bear Stearns Private Equity Limited
22 September 2006

Company         Bear Stearns Private Equity Limited

Headline        Buy Back

Bear Stearns Private Equity Limited

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

22nd September 2006

Regulatory News Service

London Stock Exchange

London

EC4M 7LS

Dear Sir,



BEAR STEARNS PRIVATE EQUITY LIMITED

Bear Stearns Private Equity Limited (the 'Company') announces that at the Annual
General Meeting of the Company held on 20 September 2006, the following ordinary
resolution was passed:



'THAT the Company be authorised in accordance with the Companies (Purchase of
Own Shares) Ordinance, 1998 to make market purchases (within the meaning of
section 5 of the said Ordinance) of equity shares and zero dividend preference
shares ('Shares'), provided that the maximum number of Shares authorised to be
purchased is such number of Shares as equates to 14,275,037 equity shares and
8,752,372 zero dividend preference shares or if less such number as is equal to
14.99 per cent of the issued Shares as at the date of the passing of this
resolution.  The minimum price which may be paid for a Share is 1p and the
maximum price which may be paid for a Share is an amount equal to 105 per cent
of the average market values for a Share taken from the Official List of the UK
Listing Authority for the five business days immediately preceding the day on
which the Share is purchased.  Such authority expires at the conclusion of the
2007 general meeting of the Company.'



This authority will be exercised by the Company in order to address any
imbalance between the supply of and demand for Shares in the market.  Purchases
will only be made through the market for cash at prices below the prevailing net
asset value of a Share where the directors believe such purchases will result in
an increase in the net asset value of the remaining Shares and to assist in
narrowing any discount or premium to net asset value at which the Shares may
trade.



As the report and accounts are not yet available the resolution as to approval
of the annual report and accounts has been adjourned to a date to be notified.





END


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