Issue of Equity

Utilico Emerging Markets Limited
12 February 2008





UTILICO EMERGING MARKETS LIMITED ('the Company')

12 February 2008


Utilico Emerging Markets Limited announces the allotment of 5,259 ordinary
shares of 10p each. These shares, which rank pari passu with the existing 
shares in issue, have been allotted following the exercise of 5,259 warrants 
on 31 January 2008. Application has been made for the new ordinary shares to be
admitted to trading on AIM and dealings are expected to commence on 18 February
2008. Application has also been made for listing on the Bermuda Stock Exchange
and Channel Island Stock Exchange.

As a result of this exercise the total number of ordinary shares is issue now
stands at 166,367,303 and the total number of warrants in issue stands at
32,537,259. The Company also has 85,000,000 C shares and 17,000,000 
subscription shares.

END






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