NB Private Equity Partners Ltd. — Net Asset Value 2010

Sep 9, 2010

NB Private Equity Partners Announces Monthly Net Asset Value Update for August 2010 and Publishes Presentation for Investor Conference Call

9 September 2010

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") and published a new presentation for the investor conference call scheduled for Thursday, 9 September 2010.

Monthly NAV Update

As of 31 August 2010, the unaudited net asset value per share was \$9.52, which represents an increase of 0.1% compared to the unaudited net asset value per share of \$9.51 at 31 July 2010.

The value of NBPE's private equity portfolio as presented in the August 2010 monthly report was based on the following information:

• 22% of the private equity fair value was held in credit-related fund investments that were re-valued as of 31 August 2010
• 10% of the private equity fair value was held in publicly traded securities and new private co-investments that were re-valued as of 31 August 2010
• 67% of the private equity fair value was held in private equity funds and coinvestments using valuation information through 30 June 2010
• 1% of the private equity fair value was held in private equity funds and coinvestments using valuation information through 31 March 2010

During August, NBPE's portfolio value increased due to \$0.5 million of unrealized gains on credit-related fund investments as well as \$4.9 million of net realized and unrealized gains that were attributable to the receipt of Q2 2010 valuation information. These gains in value were offset by \$3.2 million of unrealized losses on public equity securities and \$0.5 million of negative foreign exchange adjustments.

NBPE expects to continue to provide regular NAV updates within seven business days of each month's end.

A breakdown of NBPE's NAV can be obtained in the August 2010 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.

Investor Presentation

In preparation for today's investor conference call, NBPE also published a new presentation on the Company's website.

The investor conference call will take place today at 16.30 CEST / 15.30 BST / 10.30am EDT and can be accessed by dialing +1-866-919-8155 (U.S.) or +1-706-634-9866 (International) with the access code 98477390. Please ask for "the NBPE investor call."

A playback facility will be available two hours after the conference call. This facility can be accessed for two weeks following the call by dialing +1-800-642-1687 (U.S.) or +1-706- 645-9291 (International). The code to access the recording is 98477390.

A webcast of the investor call will also be available on NBPE's website within several days after the call.

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 with Class A ordinary shares admitted to trading on Euronext Amsterdam and the Specialist Fund Market of the London Stock Exchange. NBPE has ZDP shares admitted to trading on the Specialist Fund Market of the London Stock Exchange and the Daily Official List of the Channel Islands 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.