Issue of Equity

Bear Stearns Private Equity Limited
17 April 2007

Bear Stearns Private Equity Limited

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

17 April 2007

Regulatory News Service
London Stock Exchange
London
EC4M 7LS

Dear Sir,

NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA

BEAR STEARNS PRIVATE EQUITY LIMITED - FURTHER ISSUE OF SHARES

The Company announces that it has published a prospectus relating to a Placing
of New Equity Shares.

The Placing Price of per New Equity Share is $1.53, being the NAV per existing
Equity Share as estimated by the Directors as at 31 March 2007 of $1.50, but
increased by such amount as to allow for the estimated costs and expenses of the
Placing.

The estimated costs and expenses represent 1.9% of the proceeds of the Placing.

Bear Stearns International Limited, HSBC Private Bank (UK) Limited, HSBC Private
Bank (Suisse) SA (acting through its registered office and its branches in Hong
Kong and Singapore), The Hongkong and Shanghai Banking Corporation Limited,
JPMorgan Cazenove and Migdal Hitum Ve'Kidum Asakim Ltd have been appointed as
placing agents in respect of the New Equity Shares.  JPMorgan Cazenove has been
appointed sponsor.

Expected Timetable
Latest time and date for receipt of Placing           12.00 p.m. on 27 April 2007
commitments
Results of placing announced                          By 30 April 2007
Dealings in New Shares commence                       2 May 2007
CREST stock accounts credited                         2 May 2007
Certificates for shares despatched                    week commencing 7 May 2007

Copies of the prospectus may be obtained free of charge from the registered
office of the Company and from:
JPMorgan Cazenove, 20 Moorgate, London, EC2R 6DA     Bear Stearns Asset Management Limited, 45 Old Bond
                                                     Street, London W1S 4QT

In addition, copies will shortly be available for inspection at the UK Listing
Authority's Document Viewing Facility, which is situated at:

Financial Services Authority

25 The North Colonnade

Canary Wharf, London E14 5HS

Enquiries:

Bear Stearns Asset Management

Greg Getschow / Troy Duncan - 001 212 272 7732

HSBC entities

Boudewijn Jansen / Marina Gerova - 020 7860 5277

JPMorgan Cazenove

Angus Gordon Lennox - 020 7588 2828

Peregrine Communications

Anthony Payne / Max Hilton - 020 7978 6052

THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM PART OF AN OFFER TO SELL,
PURCHASE, EXCHANGE OR SUBSCRIBE FOR ANY SECURITIES OR SOLICITATION OF SUCH AN
OFFER IN THE UNITED STATES OF AMERICA OR ANY OTHER JURISDICTION. BEAR STEARNS
PRIVATE EQUITY LIMITED HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED
STATES INVESTMENT COMPANY ACT OF 1940, AS AMENDED. THE SECURITIES REFERRED TO IN
THIS ANNOUNCEMENT HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED, AND WILL NOT BE OFFERED OR SOLD OR
OTHERWISE TRANSFERRED WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR
BENEFIT OF, US PERSONS EXCEPT IN ACCORDANCE WITH THE UNITED STATES SECURITIES
ACT OF 1933, AS AMENDED, OR AN EXEMPTION THEREFROM AND UNDER CIRCUMSTANCES WHICH
WILL NOT REQUIRE BEAR STEARNS PRIVATE EQUITY LIMITED TO REGISTER UNDER THE
UNITED STATES INVESTMENT COMPANY ACT OF 1940, AS AMENDED.

JPMorgan Cazenove Limited, which is authorised and regulated in the United
Kingdom by the Financial Services Authority, is acting for Bear Stearns Private
Equity Limited and for no one else in connection with the matters referred to in
this announcement and will not be responsible to anyone other than Bear Stearns
Private Equity Limited for providing the protections afforded to clients of
JPMorgan Cazenove Limited or for affording advice in relation to the contents of
this announcement or on any matters referred to herein.

END




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