Director/PDMR Shareholding

Utilico Emerging Markets Limited
16 October 2007

UTILICO EMERGING MARKETS LIMITED ('the Company')



16 October 2007



Directors' Dealings



The Company announces that the following ordinary shares of 10p each in the
Company have today been allotted to Directors in satisfaction of their
remuneration for the quarter end ended 30 September 2007, in accordance with
their fee entitlements as detailed in the Company's Admission Document dated 14
July 2005:


Director                       Fee shares allotted    Resultant shareholding                    %
A Zagoreos                                   4,617                   290,459                 0.17
C D O Jillings                               3,170                   677,955                 0.41
G A Madeiros                                 3,962                     4,560                 0.00
G P D Milne                                  3,170                   459,080                 0.28
K J O'Connor                                 3,170                   408,602                 0.25





Application has therefore been made for the admission to trading on AIM of
18,089 ordinary shares of 10p each in the Company ('Admission'). Upon Admission
these Shares will rank pari passu with the Company's existing issued ordinary
shares and dealings are expected to commence on 23 October 2007.  Application
has also been made for listing on the Bermuda Stock Exchange.



Following Admission the Company will have 166,344,339 Shares and 32,542,518
Warrants to subscribe for Shares in issue.



END


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