Diversified Private Equity Corp. provides summary of operations



    TORONTO, Jan. 29 /CNW/ - Diversified Private Equity Corp. (the "Company")
provides the following summary of operations for the quarter ended December
15, 2008. The Company was created to provide holders of the Company's shares
with tax efficient exposure to the total return of a portfolio (the
"Portfolio) of securities (the "Portfolio Securities") consisting of ten firms
specializing in private equity investments that are publicly traded in North
America and ten firms specializing in private equity investments that are
publicly traded in Europe.
    At December 15, 2008, the net asset value per share was $3.20 as compared
to $5.57 at September 15, 2008, representing a decrease of 42.5%. The current
net asset value per share as at January 28, 2009 of $3.07, a decrease of 4.1%,
reflects a continuation of the challenging market conditions subsequent to the
December 15, 2008 quarter end.
    In accordance with the Company's prospectus, shareholders have the right
to receive dividends on the shares if, as and when declared and paid by the
Company's Board of Directors. Shareholders are not expected to be paid any
dividends by the Company. In order to reflect distributions paid on the
Portfolio Securities, the Portfolio is adjusted to reflect the notional
reinvestment of the net amount of any distributions paid on the Portfolio
Securities in additional securities of the Portfolio Securities that make the
distributions. Accordingly, distributions and other income, net of expenses,
earned in the quarter by the Company of approximately $50,000 or $0.03 per
share will be reinvested.
    The Company's shares are listed for trading on the TSX under the symbol
PEQ.

    %SEDAR: 00024739E




For further information:

For further information: Diversified Private Equity Corp. - Investor
Relations, (416) 945-7380, E-mail: mc_dpec@scotiacapital.com, Web site:
www.scotiamanagedcompanies.com

Organization Profile

DIVERSIFIED PRIVATE EQUITY CORP.

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