NAV & Quarterly Disclosure

SVM UK Emerging Fund plc

The unaudited net asset value per share as at the close of business on 31 March
2008 was 65.50 pence. This has been calculated using bid market prices.

The Fund's ten largest holdings as at the close of business on 31 March 2008
were as follows:-

Petrel Resources                              8.7%
                                                  
China Pub Company                             7.6%
                                                  
Archipelago Resources                         5.5%
                                                  
Kirkland Lake Gold                            5.1%
                                                  
Borders & Southern Petroleum                  5.1%
                                                  
AT Communications                             5.1%
                                                  
Petra Diamond                                 5.0%
                                                  
Amazing Holdings                              5.0%
                                                  
Van Dieman Mines                              4.5%
                                                  
Mantle Diamonds                               4.2%

The Directors of the Fund confirm that they are satisfied that all inside or
price sensitive information which the Directors and the Fund have in advance of
the announcement of the results for the year to 31 March 2008 has been notified
to a Regulated Information Service.