Issue of Equity

Utilico Emerging Markets Limited
06 August 2007


UTILICO EMERGING MARKETS LIMITED ('the Company')


6 August 2007


Investment Management Agreement


Pursuant to the agreement dated 14 July 2005 made between the Company and Ingot
Capital Management Pty Limited ('Ingot'), the Company has today allotted
1,301,992 ordinary shares of 10p each in the Company, of which 1,001,992 have
been registered in the name of Ingot's nominee, and 300,000 have been registered
to Mr C Jillings, for services provided by Mr Jillings to Ingot for the period
ended 31 March 2007, as disclosed in the Directors Remuneration Report of the
Company's Annual Report for the year ended 31 March 2007.


Directors' Dealings

The Company announces that the following ordinary shares of 10p each in the
Company have today been allotted to Directors in satisfaction of their
remuneration for the quarter end ended 30 June 2007, 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                                   4,868                   285,842                 0.17
J M Collier*                                 3,743                   185,302                 0.11
C D O Jillings                               3,455                   674,785                 0.41
G P D Milne                                  3,455                   455,910                 0.27
K J O'Connor                                 3,455                   405,612                 0.24
G A M Madeiros**                               598                       598                 0.00

* resigned as a director on 19 June 2007
** appointed as a director on 19 June 2007


Application has therefore been made for the admission to trading on AIM of
1,321,566 ordinary shares of 10p each in the Company ('Admission'). Upon
Admission these Shares will rank pari passu with the Company's existing issued
ordinary shares and dealings are expected to commence on 13 August 2007.
Application has also been made for listing on the Bermuda Stock Exchange.

Following Admission the Company will have 166,325,460 Shares and 32,543,308
Warrants to subscribe for Shares in issue.


END


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