Net Asset Value

5 October 2012

SVM UK EMERGING FUND PLC

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

at the close of business on 30 September 2012 was as follows:-

SVM UK Emerging Fund plc                           47.85p

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