NEW STAR PRIVATE EQUITY INVESTMENT TRUST PLC ("The Company")

Transaction in Own Shares

The Board of the Company announces that on 10 September 2008 it made a market
purchase of 120,000 ordinary shares of 5p each in the capital of the Company at
a price of 254.0p per share.

The repurchased shares will be held in treasury. Following this repurchase the
Company holds a total of 832,000 shares in treasury. Excluding treasury shares
the Company has 18,850,212 shares in issue.



END



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