Diversified Private Equity Corp. provides summary of operations



    TORONTO, May 7 /CNW/ - Diversified Private Equity Corp. (the "Company")
provides the following summary of operations for the quarter ended March 15,
2009. 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 March 15, 2009, the net asset value per share was $2.40 as compared to
$3.20 at December 15, 2008, representing a decrease of 25.0%. The current net
asset value per share as at May 6, 2009 of $3.20, an increase of 33.3%,
reflects a rebound in the markets subsequent to the March 15, 2009 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 $57,000 or $0.04 per
share will be reinvested or used to repurchase units.
    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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