Statement re Transparency Directive

SVM UK Emerging Fund plc                            

                      Transparency directive announcement                      

In conformity with the Transparency Directive's transitional provision 6, we
notify the market of the following:-

SVM UK Emerging Fund plc's capital consists of 5,460,000 Ordinary Shares with
voting rights and no shares are held in Treasury.

Accordingly, the shareholders may use 5,460,000 as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change to their interest in SVM UK Emerging Fund plc under
the FSA's Disclosure and Transparency Rules.

For further information regarding SVM UK Emerging Fund plc please see 
www.svmonline.co.uk or contact:

Carolina Viola SVM Asset Management Limited 0131 226 6699