Net Asset Value(s)

Utilico Emerging Markets Limited
15 June 2007


                                                                                                 15-Jun-07


Below is shown the net asset value per share for
Utilico Emerging Markets Limited at                                        12-Jun-07

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

Ordinary shares                                                                                      pence

Net Asset Value - ex income                                                                         160.34

Net asset Value - cum income                                                                        162.84

Net Asset Value - diluted ex income                                                                 150.40

Net Asset Value - diluted cum income                                                                152.49





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