Holding(s) in Company

10 Dec 2007 14:29

TR-1 (i) NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached (ii):

European Utilities Trust Plc

2. Reason for the notification State Yes/No An acquisition or disposal of voting rights Yes An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An event changing the breakdown of voting rights Other (please specify):

3. Full name of person(s) subject to the notification obligation Carrousel (iii):

Capital Ltd Investment Manager 4. Full name of shareholder(s) (if different from 3.) (iv): The Carrousel Fund Ltd The Carrousel Fund II Ltd

5. Date of the transaction (and date on which the threshold is 06/12/07 crossed or reached if different) (v):

6. Date on which issuer notified: 10/12/07 7. Threshold(s) that is/are crossed or reached: 19% 8. Notified details:

A: Voting rights attached to shares

Class/type of Situation previous Resulting situation after the triggering

shares if to the Triggering transaction (vii) possible transaction (vi) using the ISIN CODE Number of Number of Number of Number of voting % of voting Shares Voting shares rights (ix) rights Rights (viii) Direct Direct Indirect Direct Indirect (x) (xi)

GB0004761176 1,000,000 1,000,000 1,750,000 1,750,000 19.33%

Ordinary 25p B: Financial Instruments

Resulting situation after the triggering transaction (xii)

Type of Expiration Exercise/Conversion Number of voting % of financial date (xiii) Period/ Date (xiv) rights that may be voting instrument acquired if the rights instrument is exercised/converted Total (A+B) Number of voting rights % of voting rights 1,750,000 19.33%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable (xv):

Carrousel Capital Ltd prime brokers hold the shares in nominees accounts.

Citigroup (Vidacos Noms Ltd) Proxy Voting:10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease to hold: 12. Date on which proxy holder will cease to hold voting

rights: 13. Additional information: 14. Contact name: Jasmine Yennek or Bruno Sangle-Ferrere

15. Contact telephone number: 02075295986, 02075295981