Director/PDMR Shareholding

Utilico Emerging Markets Limited
23 February 2007


    NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING MANAGERIAL
                      RESPONSIBILITY AND CONNECTED PERSONS




1) Name of the issuer

Utilico Emerging Markets Limited

2) State whether the notification relates to (i) a transaction notified in
accordance with DR 3.1.4R(1)(a); or (ii) DR 3.1.4(R)(1)(b) a disclosure made in
accordance with section 324 (as extended by section 328) of the Companies Act
1985; or (iii) both (i) and (ii)

(i) and (ii) above

3) Name of person discharging managerial responsibilities/director



Charles David Owen Jillings



4) State whether notification relates to a person connected with a person
discharging managerial responsibilities/director named in 3 and identify the
connected person

N/A


5) Indicate whether the notification is in respect of a holding of the person
referred to in 3 or 4 above or in respect of a non-beneficial interest


N/A


6) Description of shares (including class), debentures or derivatives or
financial instruments relating to shares


i) Warrants

ii) Warrants

7) Name of registered shareholder(s) and, if more than one, the number of shares
held by each of them


i) As in 3) above

ii) Not specified

8)State the nature of the transaction



i) Acquisition of Warrants by Mr Jillings

ii) Acquisition of Warrants by Mr Jillings's SIPP



9)Number of shares, debentures or financial instruments relating to shares
acquired



i)   144,758

ii)  100,000


10)Percentage of issued class acquired (treasury shares of that class should not
be taken into account when calculating percentage)


i) 0.445%

ii) 0.307%

11)Number of shares, debentures or financial instruments relating to shares
disposed



N/A

12) Percentage of issued class disposed (treasury shares of that class should
not be taken into account when calculating percentage)



N/A



13) Price per share or value of transaction



i) 60.00p

ii) 60.25p



14) Date and place of transaction



i) 22 February 2007

ii) 22 February 2007



15) Total holding following notification and total percentage holding following
notification (any treasury shares should not be taken into account when
calculating percentage)



i) 193,093 (0.59%)

ii) 100,000 (0.31%)



16) Date issuer informed of transaction



23 February 2007



If a person discharging managerial responsibilities has been granted options by
the issuer, complete the following boxes



17) Date of grant



N/A



18) Period during which or date on which it can be exercised



N/A



19) Total amount paid (if any) for grant of the option



N/A



20) Description of shares or debentures involved (class and number)



N/A



21) Exercise price (if fixed at time of grant) or indication that price is to be
fixed at the time of exercise



N/A



22) Total number of shares or debentures over which options held following
notification



N/A



23) Any additional information



None.



24) Name of contact and telephone number for queries



Mrs J Dearlove

020 7011 5089


25) Name and signature of duly authorised officer of issuer responsible for
making notification

Mrs J Dearlove

For and on behalf of F&C Management Limited, Secretary

26) Date of Notification



23 February 2007








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