Private Equity Investor PLC (the “Company”)

Announcement of Result of Tender Offer and Tender Price

The Board announces that the NAV at the Calculation Date was 172.2865 pence per Share. Accordingly the Tender Price is 171.7818 pence per Share, after deducting an amount equal to the Tender Costs per Share. The Basic Entitlement Percentage, as defined in the Circular sent to Shareholders on 12 November 2007 (the “Circular”), is therefore 14.5533 per cent. Other terms used in this announcement shall have the meanings given to them in the Circular.

The full result of the Tender Offer is as follows:

• Total number of Shares in issue as at the Record Date: 50,000,000
• Shares tendered for the Basic Entitlement only: 6,894,196
• Shares tendered for more than the Basic Entitlement: 39,823,450
• Shares tendered for less than the Basic Entitlement: 5,344
• Total number of Shares tendered: 46,722,990

Shareholders who tendered in excess of the Basic Entitlement will have approximately 0.95 per cent of their excess satisfied.

The Tender Offer is expected to be completed today with a total of 7,276,574 shares repurchased by the Company for cancellation.

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