Director/PDMR Shareholding

Utilico Emerging Markets Limited
14 January 2008


UTILICO EMERGING MARKETS LIMITED ('the Company')

14 January 2008

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 December 2007, in accordance
with their fee entitlements as detailed in the Company's Admission Document
dated 14 July 2005:

Director              Fee shares        Resultant            %
                        allotted     shareholding
A Zagoreos                 4,462          294,921         0.17
C D O Jillings             3,116          681,071         0.41
G A Madeiros               3,895            8,455         0.01
G P D Milne                3,116          462,196         0.28
K O'Connor                 3,116          411,718         0.25

Application has therefore been made for the admission to trading on AIM of
17,705 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 21 January 2008. Application has also been made for listing on the
Bermuda Stock Exchange and the Channel Island Stock Exchange.

Following Admission the Company will have 166,362,044 Shares, 85,000,000 C
Shares, 17,000,000 Subscription Shares and 32,542,518 Warrants to subscribe for
Shares in issue.

END


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