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Utilico Emerging Market Utilities Limited Directors' Dealings

18 October 2007

Hamilton, Bermuda, October 18, 2007 - Utilico Emerging Market Utilities Limited (UTILEMU.BH) announces that the following ordinary shares of 10p each in the Company have today been allotted to Directors in satisfaction of their remuneration for the quarter end ended 30 September 2007, 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	4,617	290,459	0.17
C D O Jillings	3,170	677,955	0.41
G A Madeiros	3,962	4,560	0.00
G P D Milne	3,170	459,080	0.28
K J O'Connor	3,170	408,602	0.25

Application has therefore been made for the admission to trading on AIM of 18,089 ordinary shares of 10p each in the Company ("Admission"). Upon Admission these Shares will rank pari passu with the Company's existing issued ordinary shares and dealings are expected to commence on 23 October 2007. Application has also been made for listing on the Bermuda Stock Exchange.

Following Admission the Company will have 166,344,339 Shares and 32,542,518 Warrants to subscribe for Shares in issue.