Issue of Equity

Utilico Emerging Markets Limited
06 August 2007



UTILICO EMERGING MARKETS LIMITED

Utilico Emerging Markets Limited announces the allotment of 790 ordinary shares
of 10p each.  These shares, which rank pari passu with the existing shares in
issue, have been allotted following the exercise of 790 warrants on 31 July
2007.  Application has been made for the new ordinary shares to be admitted to
trading on AIM and dealings are expected to commence on 13 August 2007.
Application has also been made for listing on the Bermuda Stock Exchange.


As a result of this exercise, and following the announcement made earlier today
relating to fees allotted to pursuant to the Investment Management Agreement and
to the Directors, the total number of ordinary shares in issue now stands at
166,326,250 and the total number of warrants in issue stands at 32,542,518.







6 August 2007


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