22 July 2008

Lehman Brothers Private Equity Partners Limited (Euronext  Amsterdam:
LBPE) ("LBPE")  announces the  adoption  of a  liquidity  enhancement
policy that is intended  to enhance and  strengthen the liquidity  in
the trading  of LBPE's  class  A ordinary  shares (the  "Shares")  on
Euronext Amsterdam by NYSE Euronext, the regulated market of Euronext
Amsterdam N.V. ("Euronext Amsterdam").

Consistent  with  this   policy,  LBPE  entered   into  a   liquidity
enhancement agreement on 21 July 2008 (the "Agreement") with ABN AMRO
Bank  N.V.  London  Branch   ("ABN").  The  Agreement  provides   the
parameters and requirements for LBPE's liquidity enhancement policy.

Under the Agreement, ABN has sole discretion, in the name and for the
account of LBPE and  subject to all  applicable legal and  regulatory
requirements, to effect Share repurchases and sales of Shares held in
treasury on Euronext Amsterdam within  the parameters set out in  the
Agreement. Shares repurchased  by LBPE  will either  be cancelled  or
held in  treasury (provided  that LBPE  shall not  at any  time  hold
Shares in treasury representing more than 10 per cent. of its  issued
Shares). Shares will not be sold out of treasury at a price which  is
lower than the last published net asset value per Share.

The aggregate number of Shares  which may be purchased in  accordance
with the Agreement  is subject to  a maximum of  five percent of  the
total number of  Shares outstanding as  of 21 July  2008 unless  LBPE
elects to  increase  such  maximum,  subject to  any  limits  to  the
authority granted  to  LBPE  by  its  Shareholders  to  effect  Share
repurchases. LBPE currently has  Shareholder authority to  repurchase
in the  market  up to  14.99  per cent.  of  its issued  Shares.  The
authority to  purchase  Shares shall  expire  at the  annual  general
meeting of LBPE in 2009 unless  such authority is varied, revoked  or
renewed prior to such  date. LBPE intends to  seek annual renewal  of
this authority from Shareholders.

The maximum price which may be paid for a Share is an amount equal to
the higher of (i)  the price of the  last independent trade and  (ii)
the highest  current independent  bid price  for Shares  on  Euronext
Amsterdam.

The Agreement shall remain in force  until 9 January 2009 subject  to
extension at the  election of  LBPE. The Agreement  may, however,  be
terminated at any time by either LBPE or ABN.

For further information, please contact:


Lehman Brothers              +44 207 102 3424
Jeremy Apfel
Financial Dynamics           +44 207 269 7114
Rob Bailhache
Nick Henderson


About Lehman Brothers Private Equity Partners
LBPE is a closed-end private equity fund of funds investment  company
listed on Euronext  Amsterdam on  25 July  2007, raising  a total  of
$542.1 million. The proceeds of the  IPO are in the process of  being
committed  to  a  diversified   portfolio  of  private  equity   fund
investments and  certain  direct co-investments,  diversified  across
private equity  asset class,  geography, industry,  vintage year  and
sponsor, selected by Lehman Brothers' Private Equity business.

About Lehman Brothers Private Equity
Lehman Brothers'  global Private  Equity business,  founded in  1984,
currently oversees approximately $35 billion across 38 different fund
strategies  and  seven  asset  classes:  Merchant  Banking,   Venture
Capital, Real Estate, Credit, Infrastructure, the Strategic  Partners
Group, and Fund Related Investments,  which includes fund of  private
equity funds,  fund of  hedge  funds, and  the Manager  Research  and
Selection Business.

About Lehman Brothers
Lehman Brothers, an innovator in global finance, serves the financial
needs of corporations, governments and municipalities,  institutional
clients, and high net worth  individuals worldwide. Founded in  1850,
Lehman Brothers maintains  leadership positions in  equity and  fixed
income sales,  trading  and  research,  investment  banking,  private
investment management, asset management and private equity. The  Firm
is headquartered in  New York, with  regional headquarters in  London
and Tokyo, and operates in a network of offices around the world. For
further information  about Lehman  Brothers' services,  products  and
recruitment opportunities, visit www.lehman.com.

Legal Disclaimer
These materials are not an offer for sale of securities in the United
States. Securities  may  not be  sold  in the  United  States  absent
registration with the U.S. Securities  and Exchange Commission or  an
exemption from registration under the U.S. Securities Act of 1933, as
amended. LBPE is not a  registered investment company under the  U.S.
Investment Company Act of 1940,  as amended (the "Investment  Company
Act"), and the resale of LBPE  securities in the United States or  to
U.S. persons  that are  not qualified  purchasers as  defined in  the
Investment Company  Act  is  prohibited.  LBPE  does  not  intend  to
register any offering  in the United  States or to  conduct a  public
offering of its securities in the United States.

This announcement is for information purposes only and is not an
offer to invest. LBPE is registered with the Dutch Authority for the
Financial Markets as a collective investment scheme which may offer
participations in The Netherlands pursuant to article 2:66 of the
Financial Markets Supervision Act (Wet op het financieel toezicht).
All investments are subject to risk. Past performance is no guarantee
of future returns. Prospective investors are advised to seek expert
legal, financial, tax and other professional advice before making any
investment decision. The value of investments may fluctuate. Results
achieved in the past are no guarantee of future results.


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