Invt Mgr - Performance Fee

Utilico Emerging Mkts Utilities Ltd
04 July 2006


UTILICO EMERGING MARKETS UTILITIES LIMITED ('the Company')

4 July 2006

PERFORMANCE FEE SHARES

The Company announces that in accordance with the terms of its Investment
Management Agreement with its Investment Manager, Ingot Capital Management Pty
Limited ('Ingot'), 921,018 ordinary 10p shares in the Company ('Shares') were
purchased on 4 July 2006 on behalf of Ingot at a cost below the Net Asset Value
per Share. The Company will meet the cost of the acquisition of these shares in
settlement of the proportion of the Performance Fee payable to Ingot in Shares.
Details of the Investment Management Agreement are contained in the Company's
Admission Document dated 14 July 2005


Enquiries:

Miss D A Fish 020 7770 5010
F&C Asset Management, Secretary


END



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