Portfolio Update

Standard Life Euro Pri Eqty Tst PLC
10 April 2006


                Standard Life European Private Equity Trust PLC


Disclosure of ten largest holdings at 31 March 2006 as required by the
Listing Rules, Chapter 21 paragraph 20 l.



As at 31 March 2006 the ten largest portfolio holdings of the Company by value
were as follows -


                                                                   Valuation £000          % Gross Assets

The Alchemy Investment Plan                                                28,156                   11.10
CVC Europe III                                                             18,266                    7.20
Candover 2001 Fund                                                         17,366                    6.85
Barclays Private Equity European Fund                                      13,995                    5.52
Charterhouse VII                                                           13,827                    5.45
Third Cinven Fund                                                          13,719                    5.41
Advent Global Private Equity IV                                            13,688                    5.40
MUST 4                                                                     12,152                    4.79
Duke Street Capital V Fund                                                 11,832                    4.67
Apax Europe IV                                                              8,328                    3.28

Total of ten largest portfolio holdings                                   151,329                  59.68%

Gross assets                                                              253,570


As an investor in private equity funds, the Company carries out a valuation of
its unquoted fund investments on a quarterly basis. The above table reflects the
last valuation carried out as of 31 December 2005.



                     This information is provided by RNS
            The company news service from the London Stock Exchange         ILFVISDIILIR