Diversified Private Equity Corp. announces special meeting

    TORONTO, May 28 /CNW/ - Diversified Private Equity Corp. (the "Company")
announced today that its Board of Directors has called a special meeting of
shareholders on July 20, 2009 to consider and vote upon a proposal to redeem
all of the Company's outstanding Class A Shares on March 15, 2010, being the
next annual year end of the Company, in advance of its scheduled redemption
date of March 15, 2012.
    The proposed change in the redemption date is due to the current high
management expense ratio resulting from a significant decline in the Company's
net assets since its initial public offering.
    The Company's shares are listed for trading on the TSX under the symbol

    %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, 40 King Street West, 26th Floor, Toronto,
Ontario, M5W 2X6, Tel: (416) 945-7380, Fax: (416) 863-7425

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