Standard Life European Private Equity Trust releases year-end results

Against the back drop of a stronger macroeconomic environment, Standard Life European Private Equity Trust reported NAV of 105.9p for year ended 30 September 2004, a 13.1% increase over the NAV of 93.6p reported as at 30 September 2003. The value of the company's portfolio of 30 private equity fund interests rose over the year, through a combination of new investment activity less distributions and unrealised gains. As at 30 September 2004, the portfolio was valued at £150.3m compared to £126.9m on 30 September 2003. The unrealised gains on the portfolio over the year were £10m.

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