Directorate Change

Utilico Emerging Markets Limited
19 June 2007

DIRECTORATE CHANGES



The Board is pleased to announce that Mr Garry Madeiros (aged 57) has been
appointed as a non-executive Director of Utilico Emerging Markets Limited (the '
Company').  Mr John Michael Collier has resigned as a Director of the Company.
Both changes take effect from close of business on 19 June 2007, and are
pursuant to the appointment of Mr Collier as Chairman of Utilico Limited and the
admission of the shares of Utilico Limited to trading on the London Stock
Exchange.  As explained in the Company's Report and Accounts 2007, under the
Listing Rules of the London Stock Exchange, Mr Collier may not act as Chairman
of an investment company where he is also director of another investment company
which is managed by the same investment manager.  Utilico Limited and the
Company are both managed by Ingot Capital Management Pty Limited.



In relation to Mr Madieros, the following further information falls to be
disclosed under Schedule 2(g) of the AIM Rules:



Current Directorships



BELCO Holdings Limited

Bermuda Electric Light Company Limited

Bermuda Gas & Utility Company Limited

BELCO Properties Limited

BTS Limited

BF&M Limited

BF&M General Insurance Company



As at the date of this announcement Mr Madieros does not hold an interest the
ordinary shares in the Company.



F&C Management Limited
Secretary
19 June 2007




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