NB Private Equity Partners Announces the Approval by its Shareholdersof New Articles of Incorporation

13 November 2009
 
NB Private  Equity  Partners Limited  ("NBPE"  or "the  Company"),  a
closed-end private  equity fund  of funds  investment company,  today
announces the  approval  by its  Shareholders  of amendments  to  its
Articles of Incorporation  (the "Articles") made  in relation to  the
Company's proposed  issue of  zero  divided preference  shares  ("ZDP
Shares"). The indicative terms of the Company's ZDP Share issue  were
announced on 7 October 2009.
 
The Company  was  required  to  seek the  approval  of  its  Class  A
Shareholders for the changes to the Company's Articles. These changes
establish the rights (summarised in the Circular) that will attach to
the ZDP Shares.  For the Class  A Approval Resolution  to be  passed,
more than 50 per cent. of votes received were required to be voted in
favour.
 
The approval and  adoption of the  Articles was also  required to  be
approved by special resolution of the Company's Class B Shareholder.
 
The Class A Shareholders approved the Class A Approval Resolution  at
the Class Meeting, which was held  at 10.30 a.m. on 13 November  2009
at Heritage Hall, Le  Marchant Street, St.  Peter Port, Guernsey  GY1
4HY. Of 17,254,500  proxy votes  received, 17,204,500  were voted  in
favour of the Class Resolution, being 99.71 per cent. of votes  cast.
Accordingly, the Class A Approval Resolution was passed.
 
Following approval of the Class A Approval Resolution by the Class  A
Shareholders, the  amended Articles  were  approved for  adoption  by
written special resolution  of the  holder of the  Company's Class  B
Shares.
 
Capitalized terms used  but not defined  in this announcement  shall,
unless the context requires  otherwise, have the  same meaning as  in
the Circular.
 
For further information, please contact:
 
NBPE Investor Relations     +1 214 647 9593
 
Oriel Securities            +44 20 7710 7600
Joe Winkley
Sapna Shah
 
Financial Dynamics          +44 20 7269 7114
Robert Bailhache
Nick Henderson
 
About NB Private Equity Partners Limited
 
NBPE is a closed-end private equity fund of funds investment  company
admitted to trading  on Euronext  Amsterdam and  the Specialist  Fund
Market of  the  London  Stock  Exchange.  NBPE  holds  a  diversified
portfolio   of   private   equity   fund   investments   and   direct
co-investments selected  by the  NB Alternatives  group of  Neuberger
Berman, diversified  across private  equity asset  class,  geography,
industry, vintage year and sponsor.
 
www.nbprivateequitypartners.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.
 
NBPE is established as a  closed-end investment company domiciled  in
Guernsey.  NBPE has  received the necessary  consent of the  Guernsey
Financial Services  Commission  and  the States  of  Guernsey  Policy
Council.  NBPE  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 financial  toezicht).
All investments are subject to risk. Past performance is no guarantee
of future returns.  The value of  investments may fluctuate.  Results
achieved in  the  past  are  no guarantee  of  future  results.  This
document is  not  intended to  constitute  legal, tax  or  accounting
advice  or  investment  recommendations.  Prospective  investors  are
advised to seek expert legal,  financial, tax and other  professional
advice before making any investment decision. Statements contained in
this document  that are  not historical  facts are  based on  current
expectations, estimates, projections, opinions and beliefs of  NBPE's
investment manager. Such statements involve known and unknown  risks,
uncertainties and other  factors, and  undue reliance  should not  be
placed thereon. Additionally, this document contains "forward-looking
statements." Actual events  or results or  the actual performance  of
NBPE may differ  materially from those  reflected or contemplated  in
such targets or forward-looking statements.
 
Oriel Securities Limited ("Oriel") is acting for NBPE and no-one else
in connection with NBPE and will  not be responsible to anyone  other
than NBPE  for providing  the protections  afforded to  customers  of
Oriel or for providing advice in relation to NBPE.
 
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This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.