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Utilico Emerging Market Utilities Ltd Announcement - Directors' Dealings

13 13 2005

Hamilton, Bermuda: October 13, 2005 -- The Company announces that, on 12 October 2005, the following ordinary shares of 10p each in the Company ("Shares") were allotted to Directors in satisfaction of their remuneration for the quarter end ended 30 September 2005, in accordance with their fee entitlements as detailed in the Company's Admission Document dated 14 July 2005:

Director	Fee shares allotted	Resultant shareholding	%
A Zagoreos	6,055	106,055	0.14
M Collier	4,239	54,239	0.07
C Jillings	4,239	104,239	0.13
G Milne	4,239	204,239	0.27
K O'Connor	4,239	79,239	0.10

Application has therefore been made for the admission to trading on AIM of 23,011 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 18 October 2005.

Following Admission the Company will have 75,045,250 Shares and 15,004,447 Warrants to subscribe for Shares in issue.