Issue of Equity

Utilico Emerging Mkts Utilities Ltd
25 April 2006

UTILICO EMERGING MARKET UTILITIES LIMITED ('the Company')



25 April 2006



Directors' dealings



The Company announces that the following ordinary shares of 10p each in the
Company ('Shares') have today been allotted to Directors in satisfaction of
their remuneration for the quarter end ended 31 March 2006, 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                    5,502                   117,327              0.15
J M Collier                   3,851                    62,129              0.08
K O'Connor                    3,851                    87,129              0.12



Application has therefore been made for the admission to trading on AIM of
13,204 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 2 May 2006.  Application has also been made for listing on the
Bermuda Stock Exchange.



Following Admission the Company will have 75,083,980 Shares and 15,000,847
Warrants to subscribe for Shares in issue.



END


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