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Utilico Emerging Markets Ltd - Disclosure Of Directors' Dealings

15 October 2008

Hamilton, Bermuda - 15 October, 2008 - Utilico Emerging Markets Limited [Ticker: UTILEMU.BH] announces the following purchases of ordinary shares of 10p each in the Company by its Directors at 95p per share on 9 October 2008. These purchases were made to satisfy the Directors' fee for the quarter ended 30 September 2008, as detailed in the Company's Admission Document dated 14 July 2005.

Director	Ordinary shares purchased in lieu of fees	Total ordinary shareholding	% of issued ordinary shares	Warrants	% of issued warrants	S shares	% of issued S shares
A Zagoreos	6,914	341,985	0.16	-	-	5,423	0.06
CDO Jillings	4,939	894,012	0.42	293,093	0.90	10,846	0.12
GA Madeiros	6,420	66,100	0.03	-	-	8,134	0.09
G P D Milne	4,939	474,677	0.22	86,239	0.27	-	-
K O'Connor	4,939	451,929	0.21	74,668	0.23	5,423	0.06

For further information please contact:

Rhonda Nicoll, F&C Management Limited 0131 718 1074