This page includes Regulatory news filings supplied by issuers listed on the BSX. Please note the BSX is not responsible for the content, accuracy or completeness of announcements filed by issuers and disclaims all liability for any loss arising from reliance on information contained within issuer announcements.

UTILICO EMERGING MARKETS LIMITED - Directors' Dealings

12 January 2009

Hamilton, Bermuda - 12 January, 2009 - Utilico Emerging Markets Limited (the "Company") announces the following purchases of ordinary shares of 10p each in the Company by its Directors at 96.5p per share on 12 January 2009. These purchases were made to satisfy the Directors' fee for the quarter ended 31 December 2008, as detailed in the Company's Admission Document dated 14 July 2005.

Director	Ordinary shares purchased in lieu of fees	Total ordinary share-holding	% of issued ordinary shares	Warrants	% of issued warrants	S shares	% of issued S shares
A Zagoreos	8,029	349,714	0.16	-	-	5,423	0.06
C Jillings	5,735	899,747	0.42	293,093	0.91	10,846	0.12
GA Madeiros	7,455	73,555	0.03	-	-	8,134	0.09
G Milne	5,735	480,412	0.22	86,239	0.27	-	-
K O'Connor	5,735	457,664	0.21	74,668	0.23	5,423	0.06

For further information please contact:

Rhonda Nicoll, F&C Management Limited Tel: 0131 718 1074