Issue of Equity

SVM UK EMERGING FUND PLC                            

                                Issue of Equity                                

SVM UK Emerging Fund plc (the Company) is pleased to announce the issue of
545,000 new ordinary shares at an issue price of 62.5p per share, pursuant to
the authority granted at the Company's AGM on 19 July 2006, representing a
premium of approximately 2% to the net asset value as at the close of business
on 27 February 2007. The proceeds will be used in accordance with the Company's
investment policy. The new shares will rank pari passu with the existing issued
shares and application has been made to the UK Listing Authority for the new
shares to be admitted to the Official List and to the London Stock Exchange for
the new shares to be admitted to trading on its Main Market; it is expected
that such admissions will take place on 1 March 2007.

Following the issue and in conformity with the Transparency Directive's
transitional provision 6 the Company hereby notifies the market that the total
number of ordinary shares that the Company has in issue is 6,005,000 ordinary
shares out of a total authorised capital of 100,000,000 ordinary shares all
with voting rights. No shares are currently held in treasury. The figure of
6,005,000 may be used by shareholders as the denominator for the calculation by
which they may determine if they are required to notify their interest in, or
change to their interest in, the Company under the FSA's Disclosure and
Transparency Rules.

Donald Robertson

SVM Asset Management Limited

28 February 2007