Director/PDMR Shareholding

Utilico Emerging Markets Limited
17 April 2007

UTILICO EMERGING MARKETS LIMITED ('the Company')


17 April 2007


Directors' Dealings


The Company announces that the following ordinary shares of 10p each in the
Company ('Shares') have today been allotted to Directors in satisfaction of
their remuneration for the quarter end ended 31 March 2007, in accordance with
their fee entitlements as detailed in the Company's Admission Document dated 14
July 2005:

Director             Fee shares allotted    Resultant shareholding             %
A Zagoreos                         5,144                   280,974          0.17
J M Collier                        4,513                   181,559          0.11
C D O Jillings                     3,610                   371,330          0.23
G P D Milne                        3,610                   452,455          0.27
K O'Connor                         3,610                   402,157          0.24


Application has therefore been made for the admission to trading on AIM of
20,487 Shares ('Admission'). Upon Admission these Shares will rank pari passu
with the Company's existing issued ordinary shares and dealings are expected to
commence on 27 April 2007.  Application has also been made for listing on the
Bermuda Stock Exchange.


Following Admission the Company will have 165,003,894 Shares and 32,543,308
Warrants to subscribe for Shares in issue.


END


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