NB Private Equity Partners Ltd. — Net Asset Value 2009

Aug 11, 2009

NB Private Equity Partners Announces Monthly Net Asset Value Update for July 2009

11 August 2009

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

As of 31 July 2009, NBPE's unaudited NAV per share was \$8.39, representing an increase of 3.2% compared to the unaudited NAV per share of \$8.13 at 30 June 2009.

The value of NBPE's private equity portfolio as presented in the July 2009 monthly report was based on the following information:

• 26% of the portfolio value was held in credit related fund investments and publicly traded securities that were re-valued as of 31 July 2009
• 32% of the portfolio value was held in private equity funds and private coinvestments valued using information through 30 June 2009
• 42% of the portfolio value was held in private equity funds and private coinvestments valued using information through 31 March 2009

During July, NBPE's portfolio value increased due to \$3.9 million of positive mark-tomarket adjustments on credit-related fund investments, \$2.1 million of unrealized gains related to public equity securities and \$0.4 million of positive foreign exchange adjustments. In addition, net unrealized gains of \$7.7 million were attributable to the receipt of Q2 2009 valuation information for certain fund investments and private co-investments.

NBPE expects to issue its interim report and financial statements for the period ended 30 June 2009 later this month. 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.

NBPE also expects to provide regular NAV updates for the months ending 31 August 2009 and 30 September 2009 within seven business days of each month's end.

A breakdown of NBPE's NAV can be obtained in the July 2009 monthly report, which is published on the Company's website at www.nbprivateequitypartners.com. The monthly report should be read in conjunction with this announcement.

For further information, please contact:

NBPE Investor Relations	+1 214 647 9593
Financial Dynamics	+44 20 7269 7114
Rob 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 coinvestments selected by the NB Alternatives group of Neuberger Berman, diversified across private equity asset class, geography, industry, vintage year and sponsor.

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.