NAV & Quarterly Disclosure

SVM UK Emerging Fund plc

The unaudited net asset value per share as at the close of business on 31
December 2007 was 70.06 pence. This has been calculated using bid market
prices.

The Fund's ten largest holdings as at the close of business on 31 December 2007
were as follows:-

Petrel Resources                              8.0%
China Pub Company                             7.1%
Petra Diamonds                                6.8%
Kirkland Lake Gold                            6.7%
Amazing Holdings                              5.7%
Dwyka Resources                               5.4%
AT Communications                             5.2%
Van Dieman Mines                              5.0%
Maghreb Mining                                4.0%
Mantle Diamonds                               4.0%