NAV & Quarterly Disclosure

SVM UK Emerging Fund plc

The unaudited net asset value per share at the close of business on 30 March
2007 was 63.61 pence. This has been calculated using bid market prices.

In accordance with the continuing obligations under Listing Rule 15.4.11, the
Fund's ten largest holdings as at the close of business on 30 March 2007 were
as follows:-

China Pub Company                                 7.9%
                                                      
Amazing Holdings                                  6.5%
                                                      
International Medical Devices                     5.2%
                                                      
Symphony Plastics                                 4.5%
                                                      
Kirkland Lake Gold                                4.3%
                                                      
ToLuna                                            3.9%
                                                      
Appian Technology                                 3.8%
                                                      
Tinopolis                                         3.7%
                                                      
AT Communications                                 3.6%
                                                      
Music Copyright Solutions                         3.4%