Holding in Company

Standard Life Euro Pri Eqty Tst PLC
5 June 2001


                                 SCHEDULE 10

                  NOTIFICATION OF MAJOR INTERESTS IN SHARES

 1. Name of company:

Standard Life European Private Equity Trust PLC


2) Name of shareholder having a major interest
      Friends Ivory & Sime Plc


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
      British Assets Trust (discretionary client of 2 above)


4) Name of the registered holder(s) and, if more than one holder, the
number of shares held by each of them
      Chase Nominees Ltd


5) Number of shares/amount of stock acquired
      5,000,000 ordinary shares


6) Percentage of issued class
      3.13%


7) Number of shares/amount of stock disposed
      n/a


8) Percentage of issued class
      n/a



9) Class of security
      Ordinary 0.2p shares


10) Date of transaction
      29 May 2001


11) Date company informed
      5 June 2001


12) Total holding following this notification
      5,000,000



13) Total percentage holding of issued class following this notification
      3.13%


14) Any additional information
      None


15) Name of contact and telephone number for queries
      Lynn Mathewson (Tel [phone])


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

      Lynn Mathewson

Date of notification 5 June 2001