Diversified Private Equity Corp. announces normal course issuer bid

    TORONTO, Oct. 9 /CNW/ - The Board of Directors of Diversified Private
Equity Corp. (the "Company") announced today that the Toronto Stock Exchange
(the "TSX") has accepted the Company's notice of intention to proceed with a
normal course issuer bid through the facilities of the TSX. There were
2,245,790 Class A shares of the Company issued and outstanding (each a
"Share") on October 5, 2007 and 2,243,790 Shares in the public float. The
Company intends to purchase for cancellation up to 224,379 Shares through the
facilities of the TSX, representing approximately 10% of the public float of
the Shares as at October 5, 2007. Pursuant to TSX policies, the Company will
not purchase more than 2% of the 2,245,790 Shares outstanding during any 30
day period. The purchases may commence on October 11, 2007 and will terminate
on October 10, 2008, or on such earlier date as the Company may complete its
purchases pursuant to the Notice, or provide notice of termination. Any such
purchases will be made by the Company at the prevailing market price at the
time of acquisition.
    The Company has been created to provide holders of the Company's Shares
with tax efficient exposure to the total return of an initially
equally-weighted portfolio of securities consisting of the ten largest firms
specializing in private equity investments that are publicly traded in North
America and the ten largest firms specializing in private equity investments
that are publicly traded in Europe.
    Shares are listed for trading on the TSX under the symbol PEQ.

    %SEDAR: 00024739E

For further information:

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

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