Issue of Equity

Utilico Emerging Mkts Utilities Ltd
31 July 2006



UTILICO EMERGING MARKET UTILITIES LIMITED ('the Company')

31 July 2006


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 30 June 2006, 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                        6,650                   224,078           0.14
J M Collier                       7,700                   166,755           0.10
C D O Jillings                    1,980                   251,942           0.15
G P D Milne                       1,133                   440,612           0.27
K J O'Connor                      4,667                   390,134           0.24


Application has therefore been made for the admission to trading on AIM of
22,130 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 7 August 2006.  Application has also been made for listing on the
Bermuda Stock Exchange.

Following Admission the Company will have 164,622,626 Shares and 32,904,089
Warrants to subscribe for Shares in issue.



                      This information is provided by RNS
            The company news service from the London Stock Exchange