Diversified Private Equity Corp. provides summary of operations

    TORONTO, Nov. 2 /CNW/ - The Board of Directors of Diversified Private
Equity Corp. (the "Company") provides the following summary of operations for
the quarter ended September 15, 2007. The Company was created to provide
holders of the Company's shares with tax efficient exposure to the total
return of an initially equally-weighted portfolio (the "Portfolio) of
securities (the "Portfolio 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.
    At September 15, 2007, the net asset value per share was $7.81 as
compared to $8.98 at June 15, 2007, representing a decrease of 13% reflecting
depreciation in the market value of the Portfolio. The total market value of
the Company's Portfolio was $17.5 million as compared to $20.2 million at
June 15, 2007. The decline in the net asset value is primarily the result of
the decline in the value of the private equity investments but is also partly
attributable to appreciation in the Canadian dollar as the Company's policy is
to not hedge its foreign currency exposure.
    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 $305,000 or $0.14 per
share will be reinvested.
    In line with its recently announced normal course issuer bid, the Company
expects to commence purchasing shares in the market if it is determined such
purchases are accretive to shareholders.

    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:

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