UIL Utilico It

RNS Number:1652V
Utilico Investment Trust PLC
19 April 2007


19 April 2007


           Utilico Investment Trust plc ("Utilico" or the "Company")

   Proposals to re-domicile to Bermuda and associated capital reorganisation


The Board of Utilico announces that it is considering proposals to re-domicile
the Company to Bermuda. It is expected that such a move would provide Utilico
with greater investment flexibility since it would no longer seek to maintain
its status as an investment trust. The proposals are likely to be implemented
through the creation of a new Bermudan investment company, whose securities will
also be listed on the official list and admitted to trading on the London Stock
Exchange, with the same investment objective and policy as the Company and to
which the Company's investment portfolio would be transferred. It is not
anticipated that there would be any overall change in the day to day running of
the Company as a result of the change in domicile, with the same executive team
remaining in place and Ingot Capital Management Pty Limited, the Company's
investment adviser, acting as investment manager.

In addition, the Board is also considering proposals to undertake an associated
capital reorganisation which is expected to include a fundraising by the new
Bermudan investment company of up to #50 million through the issue of new zero
dividend preference shares, an amendment of the terms of the existing warrants
and a bonus issue of a new series of 2012 warrants to existing ordinary
shareholders and warrantholders.

Any implementation of the proposals would be subject to the consent of the
Company's shareholders and warrantholders.

In addition to the above proposals the Company is also proposing to exercise its
redemption rights, prior to the re-domicile of the Company, to compulsorily
redeem its 3.75 per cent. subordinated convertible loan stock 2009 ("CULS"),
notice of which will be sent to CULS holders on or as soon as practicable after
the 30 April 2007. Prior to the compulsory redemption date, CULS holders will be
able to convert their CULS into ordinary shares of the Company.

A further announcement will be made in due course.


Enquiries:

Arbuthnot Securities Limited            020 7012 2000
Alastair Moreton



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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