Net Asset Value(s)

Utilico Emerging Mkts Utilities Ltd
22 May 2006


                                                                                                 22-May-06


Below is shown the net asset value per share for
Utilico Emerging Markets Utilities Limited at                              16-May-06

NAV per share (at bid market values) in £ sterling with prior charges at nominal value:

Ordinary shares                                                                                      pence

Net Asset Value - ex income                                                                         112.54

Net asset Value - cum income                                                                        114.83

Net Asset Value - diluted ex income                                                                 110.45

Net Asset Value - diluted cum income                                                                112.36

C Shares                                                                                             pence

Net Asset Value - ex income                                                                          97.89

Net asset Value - cum income                                                                         97.89

There is no dilution for C Shares






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