NAV & Quarterly Disclosure

SVM UK Emerging Fund plc

The unaudited net asset value per share at the close of business on 30 June
2007 was 72.68 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 June 2007 were as
follows:-

China Pub Company                                 6.9%
                                                      
Maghreb Mining                                    6.5%
                                                      
Meridian Petroleum                                6.5%
                                                      
AT Communications                                 6.2%
                                                      
Dwyka Diamonds                                    5.7%
                                                      
Amazing Holdings                                  5.6%
                                                      
Kirkland Lake Gold                                4.9%
                                                      
International Medical Devices                     4.6%
                                                      
Music Copyright Solutions                         3.8%
                                                      
CareCapital                                       3.8%