FPEA F&C Priv. Res

RNS Number:4577J
F&C Private Equity Trust PLC
25 September 2006

                               25 September 2006

                         F & C PRIVATE EQUITY TRUST PLC

                         Final Conversion of 'C' Shares

The final conversion of 'C' shares into 'B' shares is by reference to 31 July
2006.  The conversion ratio of 0.57787913 was announced on 18 September 2006.
The record date for the final conversion was the close of business today (25
September 2006).  The Company is now pleased to announce that, with immediate
effect, the remaining 8,453,790 'C' shares have been converted into 4,885,268
'B' shares.

Following the final conversion, 72,282,273 'B' shares are now in issue and there
are no longer any 'C' shares in issue.  The number of 'A' shares in issue (being
67,084,807) remains unchanged.

Applications have been made to the Financial Services Authority for the
4,885,268 'B' shares arising on the final conversion to be admitted to the
Official List and to the London Stock Exchange for such shares to be admitted to
its main market.  Such admissions are expected to become effective, and dealings
in the 'B' shares arising on the final conversion are expected to commence on
the London Stock Exchange's main market, tomorrow (26 September 2006).

Holders of former 'C' shares in uncertificated form will receive their new 'B'
shares in uncertificated form and their accounts in CREST (being the same
accounts in which they held their 'C' shares) will be credited on 26 September
2006 with the numbers of new 'B' shares arising on the final conversion (and the
'C' shares with the former ISIN and SEDOL of GB00B15C4726 and B15C472
respectively will be cancelled and will be removed from the Official List with
effect from commencement of business on 26 September 2006).

Holders of 'C' shares in certificated form will receive certificates in respect
of the 'B' shares arising on the final conversion and immediately following the
final conversion, which will be posted by 3 October 2006.  Existing 'C' share
certificate(s) will be of no further value.

Copies of the circular giving holders of 'C' shares notice of the final
conversion dated 26 September 2006 will be submitted to the UK Listing Authority
on 26 September 2006 and will be available for inspection at the UK Listing
Authority's Document Viewing Facility, which is situated at:



Financial Services Authority
25 The North Colonnade
Canary Wharf
London E14 5HS

Tel: 020 7066 1000

                                     -ends-

For more information please contact:

Hamish Mair                                       0131 465 1184
hamish.mair@fandc.com   
          
Martin Cassels                                    0131 465 1095
martin.cassels@fandc.com

Alistair Moreton, Arbuthnot Securities Ltd        0207 012 2000

Sue Inglis, Intelli Corporate Finance Limited     0207 653 6300


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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