Preliminary announcement of financial statements for the period 1 February 2008 - 31 January 2009

Company announcement no 2 2009/10

Copenhagen, 30 April 2009


Preliminary announcement of financial statements
for the period 1 February 2008 - 31 January 2009

The Board of Directors of Scandinavian Private Equity A/S (SPEAS) has
today considered and approved the Company's Annual Report. The Annual
Report contains the following highlights:

SPEAS has made investment commitments to five selected private equity
funds which SPEAS considers to be among the top funds within their
segments: EQT V, Industri Kapital 2007, Litorina Kapital III, Apax
Europe VII and Herkules Private Equity Fund III.

SPEAS's investments through private equity funds amount to DKK 240m,
and the uncalled proportion of the Company's investment commitments
to private equity funds totals approximately DKK 530m, which the
funds may invest in new companies over the next few years.

In addition, SPEAS has invested DKK 69m in listed private equity
shares and placed DKK 347m as deposits with Danish banks.

Results for the period were a net loss of DKK 224.1m. Investments
through private equity funds have been written down by DKK 63m, and
the portfolio of listed private equity shares generated a total
negative return of DKK 153.9m. Following the placement of cash, net
financials totalled DKK 17.1m.

Equity stood at DKK 664.2m at 31 January 2009, equal to a book value
per share of DKK 13,307 against a market price of DKK 5,800 at 28
April 2009.

In Q4 of the financial year, SPEAS bought back 153 own shares of a
total of DKK 0.9m as the share price was attractive compared with the
Company's other investment alternatives.

In connection with the most recent amendment of section 19 of the
Danish Capital Gains Tax Act, SPEAS is expected to be classified as a
tax-exempt investment company implying that Danish investors will be
taxed on the basis of the current price development in future. The
amended tax legislation does not affect SPEAS's book value or
outlook.

Results for the financial year 2009/10 are expected to land in the
range of a loss of DKK 15m to a profit of DKK 5m (equal to a return
on equity between a negative 2% and a positive 1%) before value
adjustments of investments through private equity funds. The results
for the year will depend on the development in financial markets.

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

Yours sincerely
Scandinavian Private Equity A/S

Jens Erik Christensen          Ole Mikkelsen
Chairman                             CEO