SPEAS lowers its profit forecast for the financial year 2007/08 due to an unrealised capital loss on its portfolio of listed shares

Copenhagen, 14 February 2008

Stock exchange announcement no 2 2008/09

As a consequence of the turmoil in financial markets, Scandinavian
Private Equity A/S (SPEAS) has had an unrealised capital loss on the
Company's portfolio of listed private equity companies; while the
Company's other activities have developed in accordance with the
forecast in the prospectus from January 2007. Therefore, SPEAS lowers
its profit forecast for the financial year, which ended on 31 January
2008.

In accordance with the prospectus, SPEAS has built up a portfolio of
European listed private equity companies to offer its shareholders
exposure to the private equity market until the Company's capital has
been invested in full through private equity funds. As per 31 January
2008, the market value of this portfolio was DKK 255m.

The result of SPEAS's investments in listed private equity companies
in 4Q amounts to a loss of DKK 69m as a consequence of the general
market development. In the financial year 2007/08, SPEAS recorded a
total loss of DKK 86m on the portfolio, corresponding to 24.6% of
total investments in listed private equity companies and 8.8% of the
Company's equity immediately after the IPO in February 2007.

Consequently, SPEAS now expects a loss in the range of DKK -93m to
DKK -88m for the first financial year, which ended on 31 January 2008
against the previously forecasted DKK -45m to DKK -35m. This forecast
corresponds to a book value per share of around DKK 17,600 to DKK
17,700 as per 31 January 2008, on which date the share price was DKK
13,250.

As mentioned in the 3Q report, SPEAS has been welcomed by reputable
managers of attractive private equity funds and has since the IPO in
February 2007 entered into investment commitments of around DKK 789m
to four private equity funds: EQT V, Industri Kapital 2007, Litorina
Kapital III and Apax Europe VII. As per 31 January 2008, SPEAS has
invested about DKK 179m through private equity funds; additionally,
the Company has placed about DKK 450m in interest bearing claims.

The management company Scandinavian Private Equity Partners A/S is
currently considering potential investments in several good private
equity funds. Combined with the investment commitments already made,
this indicates that SPEAS will have invested its capital in full
through private equity funds sooner than expected.

The necessary information to evaluate the potential need for value
adjustments of SPEAS's investments through private equity funds has
not yet been received from the funds, but value adjustments are
expected to a limited extent only. Additionally, the forecast is
subject to final year-end closing and audit. Consequently, the final
result can deviate from the forecast.

SPEAS announces its annual report on 22 April 2008.

For further information, please contact:
Ole Mikkelsen, CEO, tel +45 70 25 10 55, mobile +45 30 66 96 30