Issue of Equity

Utilico Emerging Mkts Utilities Ltd
18 January 2006

UTILICO EMERGING MARKET UTILITIES LIMITED ('the Company')



18 January 2006



Directors' dealings



The Company announces that, on 17 January 2006, the following ordinary shares of
10p each in the Company ('Shares') were allotted to Directors in satisfaction of
their remuneration for the quarter end ended 31 December 2005, 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                      5,770                   111,825             0.15
J M Collier                     4,039                    58,278             0.08
C Jillings                      4,039                   108,278             0.14
G Milne                         4,039                   208,278             0.28
K O'Connor                      4,039                    83,278             0.11



Application has therefore been made for the admission to trading on AIM of
21,926 Shares ('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 January 2006.  Application has also been made for listing on the
Bermuda Stock Exchange.



Following Admission the Company will have 75,067,176 Shares and 15,004,447
Warrants to subscribe for Shares in issue.



END


                      This information is provided by RNS
            The company news service from the London Stock Exchange