SPEAS Interim Report for the period 1 February 2009 - 30 April 2009

Copenhagen, 22 June 2009

Company announcement no 5 2009/10

Interim Report for the period 1 February 2009 - 30 April 2009

The Board of Directors of Scandinavian Private Equity A/S (SPEAS) has
today considered and approved the Company's Interim Report for the
period 1 February 2009 - 30 April 2009. The Interim Report has not
been audited and 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 247m,
and the uncalled proportion of the Company's investment commitments
to private equity funds totals approximately DKK 520m, which the
funds may invest in new companies over the next few years.

In addition, SPEAS has invested DKK 79m in listed shares in private
equity companies and deposited DKK 339m with Danish banks.

The Company recorded a profit of DKK 7.2m for the period. Investments
through private equity funds have been written down by DKK 2.1m, and
the portfolio of listed shares in private equity companyies generated
a total positive return of DKK 10.5m. Following the placement of
cash, net financials totalled DKK 3.7m.

Equity stood at DKK 670.5m at 30 April 2009, equal to a book value
per share of DKK 13,482 against a quoted price of DKK 6,400 at 18
June 2009.

In the financial period, SPEAS bought back another 163 own shares
totalling DKK 0.9m as the share price was considered attractive
compared with the Company's other investment alternatives.

Since the end of the financial period, SPEAS's portfolio of listed
shares in private equity companies has generated a positive return of
DKK 7.6m, equal to DKK 153 per share.

SPEAS maintains its earnings forecast ranging from a loss of DKK 15m
to a profit of DKK 5m for the current financial year ending on 31
January 2010 before value adjustment on 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