Holding(s) in Company

Utilico Emerging Markets Limited
12 November 2007




TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES


1.    Identity of the issuer or the underlying issuer of existing shares to which voting rights are
      attached

      Utilico Emerging Markets Limited


2.    Reason for the notification (please tick the appropriate box or boxes)

      An acquisition or disposal of voting rights                                             ( X )

      An acquisition or disposal of financial instruments which may result in the acquisition (   )
      of shares already issued to which voting rights are attached

      An event changing the breakdown of voting rights                                        (   )

      Other (specify):                                                                        (   )


3.   Full name of person(s) subject to the notification obligation:

     Rensburg Sheppards Investment Management Limited


4.   Full name of shareholder(s) (if different from 3.)

     n/a


5.   Date of the transaction (and date on which the threshold is crossed or reached if different):

     2 November 2007


6.   Date on which issuer notified:

     5 November 2007


7.   Threshold(s) that is/are crossed or reached:

     7%


8.   Notified details:   Nominee holdings


A. Voting rights attached to shares


Class/type of shares (if possible using the ISIN code)        BMG931151069


  Situation previous to the           Resulting situation after the triggering transaction
   triggering transaction
Number of     Number of       Number of     Number of voting rights   % of voting rights
Shares        Voting Rights   shares

                              Direct        Direct      Indirect      Direct      Indirect

13,992,474    13,992,474                                12,064,759                7.25%





B. Financial Instruments

Resulting situation after the triggering transaction

Type of financial  Expiration date   Exercise/Conversion Period Number of voting rights   % of voting
instrument                           /Date                      that may be acquired if   rights
                                                                the instrument is
                                                                exercised/converted

Warrants           31 July 2010      31 Jan and 31 July from    1,213,264                 0.73%
                                     2006 to 2010
(BMG931151143)





Total (A+B)

Number of voting rights                               % of voting rights

13,278,023                                            7.98%



9.   Chain of controlled undertakings through which the voting rights and/or the financial instruments are
     effectively held, if applicable:
     Client holdings registered in the name of Nominee companies 100% owned by
     Rensburg Sheppards Investmemt Management Limited



Proxy Voting:

10.    Name of the proxy holder:                  n/a

11.    Number of voting rights proxy holder will  n/a
       cease to hold:

12.    Date on which proxy holder will cease to   n/a
       hold voting rights:

13.    Additional information:                    n/a

14:    Contact name:                              Steven Ross

15.    Contact telephone number:                  020 7628 8000




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