REG-Euro Utilities: Net Asset Value(s)

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Tue Jan 22, 2008 9:30am EST 

EUROPEAN UTILITIES TRUST PLC

The net asset value per Ordinary Income share of European Utilities Trust plc
as at the close of business on 18 January 2008 was 338.61p.

The net asset value per Zero Coupon Preference share of European Utilities
Trust plc was 318.78p.

Funds under management were £44,990,816.

The portfolio has been valued using bid prices.

Movements in the fair value of the Company's derivative financial instrument
are recognised in the net asset value. This comprises of an interest rate swap
associated with the Company's borrowings.

The analysis of the gross assets less current liabilities at 18 January 2008 by
geographical area is as follows:

Croatia                         0%
                                  
Czech Republic                  4%
                                  
France                         11%
                                  
Germany                        15%
                                  
Greece                          0%
                                  
Italy                           7%
                                  
Portugal                        3%
                                  
Spain                           6%
                                  
United Kingdom                 29%
                                  
Cash                           25%
                                  
                              100%



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