J.P. Morgan Private Equity Limited Agrees to New Credit Facility

J.P. Morgan Private Equity Limited has agreed in principle to terms on a new multi-currency credit facility with a longer maturity date with Lloyds TSB Bank. The new facility will expire in January 2017 and contains similar covenants to the company’s existing $150 million multi-currency facility which was due to expire in May 2013.

PRESS RELEASE

J.P. Morgan Private Equity Limited (“JPEL” or the “Company”) is pleased to announce that it has agreed in principle to terms on a new multi-currency credit facility with a longer maturity date with Lloyds TSB Bank plc.

The new facility will expire in January 2017 and contains similar covenants to the Company’s existing $150 million multi-currency facility which was due to expire in May 2013. Key terms of the proposed facility include:

· LIBOR +280bps for a loan to value ratio (LTV) of less than or equal to 10%, with no LIBOR floor
· LIBOR +330bps for a LTV ratio of greater than 10%, with no LIBOR floor

“We continue focus on the optimization of our capital structure.” said Trevor Ash, JPEL’s Chairman. “This proposed facility will provide JPEL with increased financial flexibility to support its strategic initiatives over the next several years.”

“Moreover, extending the credit facility through 2017 will be an important milestone for JPEL. The Directors believe that the proposed refinancing will benefit the Company by allowing JPEL to focus on creating shareholder value while simultaneously representing the first step to clarifying the long-term capital structure” added Mr. Ash added.

The amended and extended credit facility is subject to final documentation and is currently expected to be completed in May. Furthermore, the Company anticipates that it will hold its annual general meeting on or about the end of June with materials available to shareholders on or about the end of May.

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About J.P. Morgan Private Equity Limited

J.P. Morgan Private Equity Limited is a Guernsey registered and incorporated, London Stock Exchange-listed, closed-ended investment company (LSE: JPEL, JPEZ, JPZZ) designed primarily to invest in the global private equity market. The investment objective of the Company is to achieve both short and long-term capital appreciation by investing in a well diversified portfolio of private equity fund interests and by capitalising on the inefficiencies of the secondary private equity market. On 17 August 2009, JPEL issued warrants free of subscription cost to shareholders on record. The warrants are publicly traded on the London Stock Exchange under the symbol “JPWW.”

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For further information please contact:

J.P. Morgan Private Equity Limited
Troy Duncan / Greg Getschow
+44 (0)20 7742 3032 / +1 212 648 1150
Troy.Duncan@jpmorgan.com / Gregory.Getschow@jpmorgan.com

Rosemary DeRise / Samantha Ladd
+1 212 648 2980 / +1 212 648 2982
Rosemary.DeRise@jpmorgan.com / Samantha.Ladd@jpmorgan.com

Peregrine Communications
Anthony Payne / Max Hilton
+44 203 178 6869
anthony.payne@peregrinecommunications.com / max.hilton@peregrinecommunications.com

For Lloyds Bank Corporate Markets
Louise Riordan
Financial Dynamics
+ 44 (0)20 7269 9308 / 07515 597 556
louise.riordan@fd.com