Net Asset Value(s)

12 January 2015

SVM UK EMERGING FUND PLC

The unaudited net asset value per share of the following Investment Trust

at the close of business on 31 December 2014 was as follows:-

SVM UK Emerging Fund plc                           68.01p

In accordance with AIC guidance, this asset value and all future asset values
use closing BID prices and is on a cum income basis.