8 July 2008

Lehman Brothers Private Equity Partners Limited ("LBPE" or "the
Company"), a closed-end private equity fund of funds investment
company, today announced an updated valuation of its Net Asset Value
("NAV").

As of 30 June 2008, the unaudited NAV per share was $10.77. This
represents an increase of 0.3% compared to the unaudited 31 May 2008
NAV per share of $10.74 and an increase of 3.8% compared to the
audited 31 December 2007 NAV per share of $10.37.

LBPE's portfolio value increased during June, principally driven by
net unrealized appreciation in the value of a direct co-investment in
the energy services sector. In addition, the portfolio benefited from
positive foreign exchange adjustments and net unrealized appreciation
in the value of fund investments. These increases in value were
partially offset by mark-to-market adjustments on publicly traded
equity securities and credit-related investments as well as an
increase in the Company's deferred tax liabilities and other accrued
expenses.

LBPE expects to issue its interim report and financial statements for
the quarter ended 30 June 2008 and host its next investor conference
call during the week of 11 August 2008. The Company is required to
consider, and will consider, all known material information in
preparing such financial statements, including information that may
become known
subsequent to the issuance of this monthly NAV update. Accordingly,
amounts included in the financial statements may differ from the
amounts published in the monthly report.

LBPE expects to provide a NAV update for the month ending 31 July
2008 concurrent with the release of the interim financial report. In
addition, the Company expects to provide a regular NAV update for the
month ending 31 August 2008 within seven business days of month's
end.

A breakdown of LBPE's NAV can be obtained in the monthly report for
the period ending 30 June 2008, which is published on the Company's
Web site at www.lbpe.com. The monthly report should be read in
conjunction with this announcement.


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.


This press release appears as a matter of record only and does not
constitute an offer to sell or a solicitation of an offer to purchase
any security.


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