Issue of Equity

Utilico Emerging Mkts Utilities Ltd
13 October 2005

DRAFT



UTILICO EMERGING MARKET UTILITIES LIMITED ('the Company')



13 October 2005



Directors' dealings



The Company announces that, on 12 October 2005, 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 30 September 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                      6,055                   106,055          0.14
M Collier                       4,239                    54,239          0.07
C Jillings                      4,239                   104,239          0.13
G Milne                         4,239                   204,239          0.27
K O'Connor                      4,239                    79,239          0.10



Application has therefore been made for the admission to trading on AIM of
23,011 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 18 October 2005.



Following Admission the Company will have 75,045,250 Shares and 15,004,447
Warrants to subscribe for Shares in issue.



END


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