Director/PDMR Shareholding

Utilico Emerging Markets Limited
04 January 2008

4 January 2008

Utilico Emerging Markets Limited (the 'Company')

Directors' Dealings

The Company announces that certain directors subscribed for the following C
shares of 50p each in the Company (with subscription shares of 0.005p each
attached on a 1 for 5 basis) at the issue price of 100p per C share on 18
December 2007 in accordance with the terms set out in the Prospectus relating 
to the placing and offer for subscription dated 23 November 2007:

                                          Subscription   
Director               Shares     %       shares      %
A Zagoreos             50,000    0.06     10,000     0.06
C D O Jillings        100,000    0.12     20,000     0.12
G A Madeiros           75,000    0.09     15,000     0.09
K J O'Connor           50,000    0.06     10,000     0.06











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