Issue of Equity

Utilico Emerging Mkts Utilities Ltd
03 February 2006

UTILICO EMERGING MARKETS UTILITIES LIMITED



Utilico Emerging Markets Utilities Limited announces the allotment of 3,600
Ordinary Shares of 10p each.  These shares, which rank pari passu with the
existing shares in issue, have been allotted following the exercise of 3,600
Warrants on 31 January 2006.  Application has been made for the new ordinary
shares to be admitted to trading on AIM and dealings are expected to commence on
9 February 2006.  Application has also been made for listing on the Bermuda
Stock Exchange.


As a result of this exercise, the total number of Ordinary Shares in issue now
stands at 75,070,776 and the total number of Warrants in issue stands at
15,000,847.





3 February 2006


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