Net Asset Value(s)

Utilico Emerging Mkts Utilities Ltd
22 December 2005


                                                                                    22-Dec-05


Below is shown the net asset value per share for
Utilico Emerging Markets Utilities Limited at                    20-Dec-05

NAV per share (at bid market values) in £ sterling with prior charges at nominal value:

                                                                                        pence

Net Asset Value - ex income                                                            102.78

Net asset Value - cum income                                                           103.47

Net Asset Value - diluted ex income                                                    102.32

Net Asset Value - diluted cum income                                                   102.89

The company will not be releasing a weekly net asset value statement for the week commencing
26th December 2005 due to the Christmas holidays. The next net asset value release will be
for a valuation date of 31st December 2005.





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