Director Shareholding

Standard Life Euro Pri Eqty Tst PLC
29 May 2001

                                 SCHEDULE 11

         NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

1) Name of company
Standard Life European Private Equity Trust PLC


2) Name of director
George Kershaw


3) Please state whether notification indicates that it is in respect of
holding of the shareholder named in 2 above or in respect of a non-
beneficial interest or in the case of an individual holder if it is a
holding of that person's spouse or children under the age of 18 or in
respect of a non-beneficial interest
In respect of 2.


4) Name of the registered holder(s) and, if more than one holder, the number
of shares held by each of them (if notified)
not disclosed


5) Please state whether notification relates to a person(s) connected
with the Director named in 2 above and identify the connected person(s)
n/a


6) Please state the nature of the transaction. For PEP transactions
please indicate whether general/single co PEP and if discretionary/non
discretionary
Purchase


7) Number of shares/amount of stock acquired
20,000


8) Percentage of issued class
0.012%


9) Number of shares/amount of stock disposed
0


10) Percentage of issued class
0.0%


11) Class of security
Ordinary


12) Price per share
100p


13) Date of transaction
29/5/01


14) Date company informed
29/5/01


15) Total holding following this notification
20,000


16) Total percentage holding of issued class following this notification
0.012%


If a director has been granted options by the company please complete the
following boxes

17) Date of grant
n/a


18) Period during which or date on which exercisable
n/a


19) Total amount paid (if any) for grant of the option
n/a


20) Description of shares or debentures involved: class, number
n/a


21) Exercise price (if fixed at time of grant) or indication that price
is to be fixed at time of exercise
n/a


22) Total number of shares or debentures over which options held
following this notification
n/a


23) Any additional information
n/a


24) Name of contact and telephone number for queries
Lynn Mathewson Tel: [phone]


25) Name and signature of authorised company official responsible for
making this notification

Lynn Mathewson



Date of Notification 29/5/01