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UTILICO EMERGING MARKETS LIMITED - Share Activity

26 January 2009

Hamilton, Bermuda - 26 January, 2009 - Utilico Emerging Markets Limited (the "Company") announces that on 23 January, 2009, General Provincial Life Pension (L) Limited ("GPLPF") acquired 734,912 ordinary shares in Utilico Emerging Markets Limited ("UEM") from Ingot Capital Management Pty Limited, the Investment Manager of UEM, and 189,516 ordinary shares and 37,903 warrants from Duncan Saville, the shareholder of ICM, at prices of 93p per share and 13p per warrant.

GPLPF is a substantial shareholder in Utilico Limited, holding 52.2% of the ordinary shares. Utilico Limited holds 24.5% of the ordinary shares of UEM.

Following this transaction, neither ICM nor Duncan Saville have any holdings of ordinary shares or warrants in UEM.

For further information, please contact:

Utilico Emerging Markets Limited	Arbuthnot Securities Limited
Charles Jillings	Alastair Moreton
01372 271 486	Hannah Pearce
	020 7012 2000