AGM Statement

Electra Private Equity PLC
08 February 2007


                            Chairman's AGM Statement



In my statement accompanying the Report & Accounts for the year ended 30
September 2006, I reported that the year had been one of great achievement for
Electra with excellent results, the completion of a major business review and
Shareholders' approval for a strategy which returned Electra to full investment
of its capital resources in private equity.


The revised investment strategy and new management arrangements with Electra
Partners were approved by Shareholders at the Extraordinary General Meeting on
12 October 2006 and I am pleased to say that these have now got off to a good
start.


The private equity market remains competitive although Electra has a broadly
based investment strategy and is able to target private equity opportunities
through direct investment, fund investment and secondary buyouts of portfolios
and funds across a wide range of sectors and types of financial instrument. As a
result the first four months of the year have been active in terms of new
investment. By contrast, the level of realisations for the first four months of
the year have, as we expected, been less than last year.


During the year ended 30 September 2006 Electra made on-market purchases at a
cost of £64.3m and cancelled 4.78 million shares. Since the year end a further
1.22 million shares have been purchased on-market for cancellation for a
consideration of just under £18 million.


In January we announced the appointment of two additional non-executive
Directors of Electra, Colette Bowe and Lucinda Webber who will join the Board on
1 March 2007. I am delighted that they are both with us today. In my letter to
shareholders giving brief details about them I stated that the Board anticipated
that a further non-executive Director would be appointed before the release of
the Interim Results - likely to be in June, and that there would then be a
period of transition after which some existing Directors would retire from the
Board.


Electra Partners has now augmented its investment team and is in a strong
position to maximise returns on the existing portfolio and implement the new
strategy. I believe Electra has a good market position and continues to provide
Shareholders with a simple and liquid access to private equity.


For further information:

Sir Brian Williamson, Chairman, Electra Private Equity PLC       020 7306 3883
Nick Miles, M: Communications Limited                            020 7153 1535




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