NSPE New Star Priv.

RNS Number:8426Z
New Star Private Equity Inv.Tst PLC
06 July 2007


NEW STAR PRIVATE EQUITY INVESTMENT TRUST PLC

New Star Private Equity Investment Trust PLC has today posted a circular to
Shareholders convening an Extraordinary General Meeting.  The two resolutions
therein, if passed, by independent Shareholders will approve the conditional
waivers granted by the Takeover Panel, the first of which arises as a result of
an error in the circular dated 23 May 2007 as described below.  Terms used in
this announcement shall have the same meaning as those set out in the circular.

The first resolution is to approve the 44.24 per cent. holding in the Company of
the New Star Funds for the purposes of the dispensation provisions of Rule 9 of
the City Code.  At the Company's previous extraordinary general meeting on 15
June 2007, independent Shareholder approval was obtained for a holding by the
New Star Funds in the Company of 39 per cent.  This figure was, due to a
technical error, an understatement, and was disclosed in the Company's circular
to shareholders dated 23 May 2007 and it was indicated that it would, based on
certain assumptions, represent the maximum holding by the New Star Funds
following the Company's reconstruction which was effected on 2 July 2007.

The second resolution relates to any exercise by the Company of the authority to
buy-back Shares and the approval of Shareholders is sought for the purposes of
the dispensation provisions from Rule 9 of the City Code.  The effect of any
such buy-back would be to reduce the total number of Shares in issue, and this
would increase the percentage of the Shares held by the New Star Funds if Shares
held otherwise than by the New Star Funds were bought back.

A copy of the above document has been submitted to the UK Listing Authority
("UKLA") and will shortly be available for inspection at the UKLA's Document
Viewing Facility, which is situated at:

 Financial Services Authority
25 The North Colonnade
Canary Wharf
London E14 5HS
Tel: 020 7066 1000


Enquiries

Angus Gordon Lennox - 020 7588 2828
JPMorgan Cazenove.



END


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