End of Stabilisation

Ashmore Group PLC
24 October 2006

These written materials are not for distribution (directly or indirectly) in or
to the United States, Canada, Australia or Japan.  They are not an offer of
securities for sale in or into the United States, Canada, Australia or Japan.


The Shares of the Company are not being registered under the US Securities Act
of 1933, as amended (the 'Securities Act') and may not be offered or sold in the
United States unless registered under the Securities Act or pursuant to an
exemption from such registration.  No money, securities or other consideration
is being solicited and, if sent in response to the information contained herein,
will not be accepted.



24 October 2006



                               Ashmore Group plc
                          ('Ashmore' or the 'Company')


Announcement of Utilisation of Over-allotment Option: Ashmore Group plc


In connection with the Placing in relation to the following ordinary shares:


Ashmore Group plc ordinary shares of 0.01p each
ISIN Code: GB00B132NW22


Ashmore announces that, in connection with the Placing of 177,266,000 ordinary
shares by Ashmore, UBS Limited, as stabilising manager, has given notice to
utilise the Over-allotment Option in full in respect of 17,726,600 ordinary
shares in Ashmore. None of the £30.1 million gross proceeds arising from the
utilisation of the Over-allotment Option will be received by Ashmore.

Including the utilisation of the Over-allotment Option, the total size of the
Placing is 194,992,600 ordinary shares. Following the utilisation of the
Over-allotment Option and as a consequence of the Over-allotment Arrangements,
Mark Coombs will be beneficially interested in 303,324,200 Ashmore ordinary
shares and Jon Moulton will be beneficially interested in 30,511,700 Ashmore
ordinary shares.

The Placing Price of Ashmore ordinary shares of 0.01p each was set at 170p per
ordinary share on 12 October 2006.

UBS Limited, as stabilising manager has also informed the Company that the
stabilisation period which commenced at 8am on 12 October 2006 has now ended and
that it made no stabilisation trades.

Further details in respect of the Over-allotment Option and the Over-allotment
Arrangements are set out in Ashmore's Prospectus dated 12 October 2006.

Defined terms used in this announcement have the same meaning as in the
Company's Prospectus dated 12 October 2006 unless the context requires
otherwise.

This announcement may not be distributed, directly or indirectly, in or into the
United States, Canada, Australia or Japan.

This announcement is for information purposes only and does not constitute an
invitation or offer to underwrite, subscribe for or otherwise acquire or dispose
of any securities of Ashmore Group plc in any jurisdiction.

In addition, if and to the extent that this announcement is communicated in, or
the offer of the securities to which it relates is made in, any EEA Member State
that has implemented Directive 2003/71/EC (together with any applicable
implementing measures in any Member State, the 'Prospectus Directive') before
the publication of a prospectus in relation to the securities which has been
approved by the competent authority in that Member State in accordance with the
Prospectus Directive (or which has been approved by a competent authority in
another Member State and notified to the competent authority in that Member
State in accordance with the Prospectus Directive), this announcement and the
Placing are only addressed to and directed at persons in that Member State who
are qualified investors within the meaning of the Prospectus Directive (or who
are other persons to whom the offer may lawfully be addressed) and must not be
acted on or relied on by other persons in that Member State.

The Placing and the distribution of this announcement and other information in
connection with the Placing in certain jurisdictions may be restricted by law
and persons into whose possession any document or other information referred to
herein comes should inform themselves about and observe any such restriction.
Any failure to comply with these restrictions may constitute a violation of the
securities laws of any such jurisdiction.

This announcement is not an offer of securities for sale into the United States.
The securities have not been, and will not be, registered under the U.S.
Securities Act of 1933 and may not be offered or sold in the United States
absent registration or an exemption from registration.  There will be no public
offer of securities in the United States.


Stabilisation/FSA


END




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